Port Denarau Marina Limited (PDM) has recorded its strongest financial performance in history, with annual revenue reaching $12.8 million for the financial year ended July 31, 2026.
Board Chairman Malakai Naiyaga said the record performance surpassed the company’s pre-pandemic revenue peak of $10.59 million in 2019 and the $10 million recorded in 2025.
“This was the strongest year in the Company’s history. For the first time, annual revenue has moved well beyond its pre-pandemic peak of $10.59 million in 2019 and $10.00M in 2025, now up to $12.8M this reporting period,” Mr Naiyaga said in the company’s annual report.
He attributed the growth to strong demand and the opening of new superyacht berths, including a 115-metre mega-yacht berth.
Operating profit increased to $5.9 million from $4.5 million in the previous financial year, while cash reserves rose by 57 per cent to $7.02 million.
The company’s total assets also increased to $71.8 million, with borrowings standing at $2.5 million.
Mr Naiyaga said an independent valuation added $7.26 million to the fair value of the company’s investment properties, bringing the property portfolio’s value to $34.76 million.
The Board has declared a final dividend of three cents per share, bringing the total dividend for the financial year to 5.5 cents per share, an increase of 10 per cent compared with 2025.
The financial year also marked a major ownership change, with the Skeggs Group selling its shares to the Fijian Holdings Group, making Fijian Holdings Limited the company’s ultimate holding company.
Mr Naiyaga acknowledged the Skeggs Group’s contribution to developing the marina over more than two decades.
The Board has also approved a new master plan for the next phase of the marina’s landside and waterside expansion.
However, Mr Naiyaga stressed that future investments would be carefully managed to protect the company’s financial position and shareholder returns.
“The Board’s approach to this opportunity is clear: invest where demand is proven, fund growth prudently from a strong balance sheet, and keep returns to shareholders rising.”
He said growing global superyacht numbers, congestion in traditional Mediterranean cruising destinations and the lead-up to the Brisbane 2032 Olympics were expected to create further opportunities for Fiji’s marine tourism industry.
“Fiji, and Port Denarau Marina in particular, sits on that route.”
Mr Naiyaga said the company was entering its next phase of expansion from a position of financial strength.
He also acknowledged Chief Executive Officer Cynthia Rasch and her management team for delivering the record performance and maintaining the marina’s international reputation.
