RB Patel has declared an interim dividend of 2 cents per share, totaling $3 million to be paid on the 26th of March.

The company also released its half-year financial reports to 31st December 2023.

Making the announcement, the outgoing Board Chairman Yogesh Karan, says, with operating profits up by 11 percent over last year’s results, the company’s performance is indeed very favorable.

The turnover for the current period was $90 million as compared to $84 million in the previous year; an increase of just under 7 percent.

The company has also announced its Operating Profit for the six months was around $7.6 million against last year’s $6.8 million, an increase of little over 11 percent.

Cash generated from operations this year was just over $10 million compared to $8 million last year; an increase of 25 percent.

Income from other sources, which is mainly rental from properties, saw a rapid rise of 39 percent, as a result of tenants having resumed to their rental payments in full, together with additional tenants that have signed up for their Stage 5 buildings at JetPoint, Nadi and vacant premises at other properties.

During the past six months, the company has acquired properties in Suva, Nasinu, and Pacific Harbour.

The company have also started a major upgrade to their old supermarket on Main Street, Nadi and have also committed to a new supermarket premises in Savusavu. This should be operational in the first quarter of this year.