Fijian Holdings Limited (FHL) Group recorded a consolidated Net Profit Before Tax (NPBT) of $67.0 million for the year ended 30 June 2026, an increase of 11% from $60.3 million in FY2025. The year also ended with a major milestone for the Group with total assets exceeding $1 billion for the first time, increasing from $917.3 million to $1.09 billion.
The growth in profit and assets was supported by the Group's strategic investments and continued focus on improving efficiencies and productivity. The opening of the FHL Tower in October 2025 marked an important moment in the Group's history, representing the completion of its single-largest investment to date. Merchant Finance Limited continued to grow its lending portfolio, particularly in market segments not traditionally served by other financiers. RB Patel Group also delivered year-on-year profit growth despite increasing competition from new market participants and continued pressure on operating costs.
Basic Industries (BIL) recorded a significant turnaround following the restructuring of its under-performing divisions, delivering NPBT of $4.0 million compared to a loss of $1.6 million in FY2025. On the other hand, Pacific Cement (PCL) also delivered a decent result despite the ongoing challenges with the current mill. PCL has also taken the next step in upgrading its plant by appointing a vendor to supply a new cement mill. FHL's investment in Fletcher Higgins complements the Group's existing interests in BIL and PCL and provides opportunities to realise synergies across the construction and infrastructure sectors.
During the year, FHL increased its shareholding in Port Denarau Marina Limited from 27.5% to 51%, giving the Group control of the business. Port Denarau Marina is now consolidated as part of the FHL Group and is expected to make a stronger contribution to the Group's earnings and long-term growth. South Sea Cruises also expanded its fleet through a significant investment in a new cruise vessel and strengthened its presence in the tourism sector through its acquisition of Mai Sunset, a land-based resort in the Yasawa Islands.
The year was not without its challenges. The grounding of the Fiji Princess affected the performance of South Sea Cruises, while impairment losses were recognised against non-performing investments, particularly Fletcher Higgins and Fiji Television. FHL also remains mindful of the uncertain operating environment, including the fuel crisis and the rising cost of doing business. The FY2026 result nevertheless demonstrates the Group's resilience and provides a solid platform for its next stage of growth.
At the Holding Company level, FHL recorded a profit before tax of $20.0 million, compared with $18.7 million in FY2025. Revenues improved during the year, supported by higher dividends received from South Sea Cruises, Merchant Finance and investment property related gains.
The Chairman, Mr. Rokoseru Nabalarua, said: "The Group has achieved an important milestone, with total assets exceeding $1 billion and all core operating entities remaining profitable. Our focus now shifts from growing the asset base to ensuring that these investments deliver the returns expected from them."
With the Group's asset base now exceeding $1 billion, FHL enters its next phase under the theme "Realising Beyond Our Comfort Zone." The focus will be on improving returns from existing investments, strengthening the performance of underperforming assets and capturing the synergies available across the Group.