FIJIAN Holdings Ltd has recorded a 66 per cent growth for the 12 months ending June 30, 2016.

As of June 30, 2016, group assets stood at $475 million, while shareholders’ funds reached $218m.

The holding company recorded a pre-tax profit of $20.44m for the 12 months compared with $12.32m made in the previous year.

According to the company, group after-tax profits for the 12 months stood at $25.88m compared with $18.48m achieved in the same period in the previous year.

In making the announcement, FHL Group chairman Iowane Naiveli said group companies achieved a new benchmark based on positive economic outlook.

“Despite TC Winston, group’s performance is commendable,” Mr Naiveli said.

He added the trend would continue for next 12-24 months.

“Group revenue reaches $294m for the said 12 months compared with previous period where revenue recorded was $256m,” he said yesterday.

“If the discontinued operations such as Sky Pacific, Media Niugini and Basic Industries (PNG) were included, group revenue would have exceeded $312m.”

Nonetheless, the group intended to reach 300 million targets in the future.

Group CEO Nouzab Fareed said the group had now exceeded its existing target.

He said the group revenue increases were largely attributable to performance of Basic Industries Ltd, Pacific Cement Ltd and RB Patel Group.

Mr Fareed said the new company in the group, Life Cinema Ltd, also exceeded expectation.