Vision Investments Limited has reported impressive financial results for the past year, driven by growth across its multifaceted business operations. Acting Chief Executive Officer Niraj Bhartu announced a remarkable 12.2% increase in revenue, bringing it to $223.5 million. Additionally, the company achieved a net profit after tax of $15.3 million. Noteworthy is the nearly fourfold increase in net operating cash flow, reaching $27.1 million, attributed to improved working capital management.
Bhartu highlighted that the company’s total assets rose to $295.8 million, an increase of 16%, while shareholder equity climbed to $134.6 million. The dividends remained steady at $0.10 per share, with earnings per share recorded at $14.79.
The company’s automotive and retail sectors demonstrated steady growth, marked by the opening of a new dealership in Nadi and a large retail store in Labasa, further expanding Vision Investments’ presence. The financial services division saw growth via third-party lending and microfinance, and the fintech segment reported robust remittance and foreign exchange activities.
Vision Energy’s renewable energy projects were particularly significant, with their large-scale initiatives leading to the displacement of 187,000 gallons of diesel and the generation of three megawatts of solar power, comparable to the planting of 41,600 trees. This reflects the company’s commitment to sustainability and innovation.
Chairman Navin Patel reassured that these strong results demonstrate the resilience of Vision Investments. The company continues to focus on innovation, sustainability, and digital transformation, with plans to expand their renewable energy operations throughout Fiji. Their strategic intentions aim to reinforce their market position despite challenges like inflation and labor shortages.
This optimistic outlook assures stakeholders of Vision Investments’ strategic foresight and dedication to long-term growth, setting a positive trajectory for the future.