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VBH declares second interim dividend

 

Dec 27, 2013 02:22:38 PM

VBH declares second interim dividend VB Holdings Limited has declared a second interim dividend of 7s cents per share, tax exempt, to shareholders for five months period as at 30 November 2013.

Including the first interim dividend of 7cents per share paid earlier in the year, the company has now paid a total interim dividend of 14 cents for the year.

Newly appointed chairman Sundar Masih Sukhu said the announcement follows improvement in business.

In a statement, VBH Ltd with its core business of Fleet Management and Property Management reached a revenue of over $3.025million for the first time, over the 11 months of trading, as of 30 November 2013.

The company exceed last year's turnover by 18 per cent, achieving $3.025 million compared to the previous $2.558million.

The profit for this period was $491k. However, the net profit before provisions for taxation for the period was $603k due to increased depreciation allowances.

Net assets have increased by eight per cent from the previous $4.9million as of 31 December to $5.3million as of 30 November 2013.

Sukhu also welcomes government announcement of the reduction in corporate tax to 10 per cent for listed companies saying it will "positively affect VB Holdings Ltd".

"The company thanks its shareholders and customers for their continued support to VB Holdings Ltd. We are also pleased that we have been in a position to provide uninterrupted dividends to the public over the past years."

Meanwhile, in taking over as chairman, Sukhu replaced Narayan S Niranjan who stepped down after 32 years with the company.

FijiLive

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