VISION Investments Ltd recorded a strong performance in the period ended September 30, 2016, with a profit before tax of $10.37 million on total revenue of $82.61m.

This, according to the company, was a significant growth over the preceding year results.

“The retail division showed strong growth and benefited from the surge in consumer demand in the first three months of the period, largely due to the economic stimulus provided by the Cyclone Winston relief efforts,” the company highlighted in its updated operating result yesterday.

It stated that its automobile division also showed strong year by year growth.

“It must be noted that the current year operating results cannot be directly compared with the previous year results as shown in the statement,” the company said.

“In the previous year, the company acquired Vision Motors, Vision Finance and Mahogany Industries division on July 1, 2015 — that is three months after the commencement of the year.

“Therefore, the previous year operating result shown in the operating statement, exclude three months operating results of these three divisions.

“Also the income tax expense in the current period has been calculated at the 10 per cent income tax rate compared to the 20 per cent in the preceding period.

“When the preceding year operating results are notionally adjusted area and restated to allow direct like to like comparison, with the current year, the current year profit before tax represent a strong growth of 50 per cent and the total revenue growth of 22 per cent.”

After considering the half year operating result of the company, on November 4, 2016, the directors declared first interim dividends of $0.04 cents per ordinary share.

This amounted to a total dividend payment of $4.15m for the financial year ending March 31, 2017.

“This compares with the dividend payment of $0.0387 cents per ordinary share, or a total dividend of $4.02m, shown in the prospective financials that were disclosed in the information memorandum issued in connection with the listing of the company on the South Pacific Stock Exchange on September 29, 2016.”