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Source: RB PATEL GROUP LIMITED
RB Patel Group Limited is pleased to announce that its Board has declared a Final Interim Dividend of 10 cents per share to be paid on 24th August 2012.
This brings the total dividends for the year to 14 cents.
Company chairman, Padam Raj Lala emphasised that this will be the fifth consecutive year the company has maintained its dividend at 14 cents per share.
The company’s sales revenue increased to $93,678,494 from $92,991,969 last year, an increase of 0.74 per cent.
Gross margin at $17,077,738 is down from $17,609,467 last year, a decrease of three per cent. Net operating profit before tax for the current year was $5,671,175 compared to last year’s result of $6,263,553 a decrease of 9.46 per cent.
Making the announcement, Mr Padam Raj Lala said: “The results (unaudited) are considerably optimistic given the local and global economic and financial conditions.”
“The company has performed considerably better in the second half of the year and this is evident in a comparison between the six monthly and full year’s trading results.” Mr Lala said.
“As we have stated earlier, the subdues economic conditions, continuing increases in the cost of doing business and the restriction on margins imposed by the Fiji Commerce Commission have impacted on the profitability of the company,” Mr Lala said.