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Airports Fiji to achieve $36 million profit by end of year

Staff writer ▼ | August 24, 2015
A state-owned enterprise in Fiji aims to achieve a $65million profit turnaround target in 2017. Airports Fiji has projected to achieve $36 million profit by the end of this year.
Airports Fiji
Airports Fiji   The positive forecast
According to executive chairman Faiz Khan, $65m target was their forecast from 2013 to 2017. The positive forecast followed the successful restructured revenue from $60m to $120m forecasted by 2016 and 2017.

Speaking at the 2015 Certified Practising Accountants (CPA) Congress in Nadi, Khan said they aimed to achieve a 10 per cent turnaround profit every year. He said state-owned enterprises were too preoccupied with performances from past years, The Fiji Times reports.

Khan said the problem was that people always talked about the inefficiencies of the past decades. He said there was a need for a change in mind-set.

When asked about the delay in renovation works at the Nadi International Airport and the cost of delays, he said there was a delay but there was no cost associated with the delay. He said the delay did not affect the services of the airline.

"The delay is mainly because of factors such as risks and challenges," he said.

Through his leadership, Fiji Pine Group of Companies was able to achieve $21m operating profit, a turnaround from $26m during its dire financial state in 2010. He revived the companies from a state of insolvency to one of the best performing state-owned enterprises.


 

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