Acting CEO of South Pacific Stock Exchange Krishika Narayan says the current market price of one share of Communications Fiji Limited is $4.35 and the radio company is paying out the highest level of returns to shareholders.
While speaking at CFL’s Annual General Meeting, Narayan told the shareholders that CFL shares is a highly sought after stock however none of the shareholders want to sell their shares at this point.
Meanwhile, Communications Fiji Limited, the parent company of Legend FM, FM96, Viti FM, Navtarang and Radio Sargam delivered a record profit of $1.714 million for it’s Fiji operations last year.
In 2015 the profit recorded was $1.15 million for the Fiji operation.
However, the group made a loss of $1.335 million in 2016 compared to a profit of $1.455 million in 2015.
CFL says this is due to the write down of CFL’s investment in Paradise Cinemas.
Chairman, Matt Wilson told the shareholders that the Fiji operation is fixed on their target of maintaining the level of profitability they accomplished in 2016.
