FIJI SUGAR POSTS $4.3 MILLION THIRD QUARTER LOSS

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Shows improvement over last year’s figure

SUVA, Fiji (Fijilive, April 27, 2010) - The Fiji Sugar Corporation (FSC) has announced a net loss of FJ$8.3 million [US$4.3 million] for the third quarter ended February 2010.

The figure is a 70.3 percent drop from the net loss of FJ$27.9 million [US$14.4 million] for the same period last year.

The FSC generated FJ$25.5 million [US$13.1 million] in revenue during the quarter.

Turnover decreased by 11.1 percent from FJ$223.5 million [US$115 million] in the same period last year to FJ$198.6 million [US$102.2 million].

Total operating revenue stood at FJ$204.07 million [US$105.02 million] down from FJ$227.5 million [US$117.1 million].

Sugar exports during the period also decreased with 152,943 tonnes of sugar shipped to the United Kingdom compared to 168,683 tonnes shipped in the same period last year.

Molasses exports increased from 56,285 tonnes in the third quarter of the previous financial year to 100,285 tonnes in the quarter ended February.

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