Fiji Television Group made a loss of $469,000 for the six months ended 31st December, 2016 compared to a profit of 2.4 million dollars for the same period for the previous year.
While announcing the unaudited financial results, Fiji TV Group says the group recorded revenue of 4.3 million dollars for the first six months of the 2017 financial year which was a decrease of 15 percent compared to the previous year.
The board says this was due to lower advertising revenue arising from lower Fiji TV coverage.
It says that Fiji TV towers in Ba and Tavua got disrupted from Cyclone Winston which saw some major clients discontinue its sponsorship and advertising business.
The board further says that previous year’s group profit included the discontinued operation from Media Niu Guinea Limited which was sold in early 2016.
Acting CEO Karen Lobendahn who takes up her position from tomorrow says they have a strong team who have the capability of delivering the necessary reforms required to make urgent changes.
