Press Release For Immediate Release a I 08'? May, 2017 . FHL Group Assets Exceed $500 million is?; Fijian Holdings Group has recorded a 29% growth in profit after tax for the nine months ending 31 March 2017. The Group's pre-tax profit for nine months stood at $18.6m compared to $15.9m achieved in the same period last year. In making the announcement, FHL Group Chairman Adrian says that Group Companies are ?3.11. continuing with strong performance as reported last financial year. The companies have performed well due to positive economic outlook. He further added that the group HES performance is on track to meet the budgeted target for the financial year 2016/2017. Group revenue has increase by 2% compared to March 2016 results. The overall Group position is in line with budgets for the 2017 financial year and expectations are high to meet the closing targets set for the current Financial year. The major revenue contribution came from Basic Industries and Pacific Cement with the high ?a demand of construction material experienced over the last quarter. As at 31 March 2017, Group assets stands at $502m while shareholders? funds have reached $233m. END 1" Director Massey Company Secretary For information, please contact Ms. Mereoni Matavou on 3305 01 7 or FIJIAN HOLDINGS LIMITED AND SUBSIDIARY COMPANIES UNAUDITED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMES FOR NINE MONTHS ENDED 31 MARCH 2017 Revenue Operating revenue Other income Expenses Cost of goods sold Staff costs Depreciation and amortisation costs Provision for diminution in value of investment Impairment loss - plant and equipment Provision for doubtful debts Impairment loss - goodwill Operating expenses Operating pro?t Finance income Finance costs Net ?nance cost Share of pro?t in associates Pro?t before tax (Loss)/gain from discontinued operations Income tax (expensellbene?t Pro?t for the year after tax Chairperson GROU Jun-16 Mar-17 Audited Mar-16 5'000 5'000 5'000 227,917 293,552 223,316 2,565 5,203 2,605 230,481 298,755 225,922 115,904 168,725 135,254 17,016 27,584 16,026 7,676 10,894 6,169 - 1,148 - 2,158 - 5,832 2,486 1,603 58,477 44,662 43,671 204,905 257,657 202,724 25,577 41,098 23,197 143 521 139 7,054 10,251 7,409 (6,911) (9,730) (7,270) - 1,485 - 18,665 32,853 15,927 - (3,372) (594) (2,641) (6,973) (2,923) 16,024 22,508 12,410 irector FIJIAN HOLDINGS LIMITED AND SUBSIDIARY COMPANIES CONSOLIDATED UNAUDITED BALANCE SHEET AS AT 31 MARCH 2017 GROUP Jun-16 Mar-17 Audited Mar-16 ASSETS 5'000 5'000 5'000 Current assets Cash and cash equivalents 22,411 24,827 20,684 Held-to-maturity investments - - 12,323 Loans, advances and receivables 90,858 88,543 75,513 Available-for?sale financial assets 9,838 9,263 10,376 Current tax asset - Inventories 28,867 30,515 31,042 Assets held for sale 1,416 1,416 4,829 153,390 154,564 154,768 Non-current assets Held?to-maturity investments - 9,500 Loans, advances and receivables 84,271 71,389 68,828 Available-for?sale ?nancial assets 29,803 29,599 28,944 Contract costs - 325 - Investment in associates 18,962 18,962 19,427 Investment properties 10,844 10,720 8,466 Property, plant equipment 140,771 124,259 120,253 Deferred tax assets 2,629 2,932 3,025 Intangible assets 61,621 62,296 62,201 348,900 320,482 320,644 Total assets 502,290 475,046 475,411 LIABILITIES Current liabilities Payables 37,458 35,567 43,356 Borrowings 126,776 122,172 121,968 Dividend payable 183 747 63 Employee entitlements 1,404 1,545 649 Current tax liability 739 952 686 Liabilities held for sale - - 166,559 160,983 166,722 Non-current liabilities Employee entitlements 11 497 - Pavables 649 649 173 Borrowings 96,686 89,670 89,100 Deferred tax liabilities 5,209 5,314 4,485 102,555 96,130 93,759 Total Liabilities 269,115 257,113 260,481 Net Assets 233,176 217,933 214,931 EQUITY Share capital 30,465 30,465 30,465 Reserves 21,899 20,824 30,292 Retained earnings 129,656 119,554 104,241 Shareholders equity attributable to members of the holding company 182,020 170,843 164,998 Minority shareholders' interest 51,155 47,090 49,933 Total shareholders' equity 233,176 217,933 214,931 FIJIAN HOLDINGS LIMITED AND SUBSIDIARY COMPANIES UNAUDITED STATEMENT CASH FLOWS FOR THREE MONTHS ENDED 30 SEPTEMBER 2016 Cash flows from Operating activities: Cash receipts from customers Cash paid to suppliers and employees Cash generated from/(used in) operating activities Dividends received Management fees received Management fees paid Net customer loans granted Net increase] (decrease) in deposits Interest received Other income received Interest paid Income tax refunds Income taxes paid Net cash from operating activities Cash flows from investing activities: Acquisition of property, plant and equipment Acquisition of contract cost Acquisition of investment property Investment in held-to-maturity assets Investment in available-for?sale financial assets Deposit paid Proceeds from disposal of available-for sale ?nancial assets Proceeds from disposal of property, plant and equipment and assets held for sale Proceeds from held-to-maturity investment Acquisition of intangible assets Disposal of discontinued operation, net of cash disposed off Net advances (to)/from subsidiaries Net cash (used in)/from investing activities Cash flows from financing activities: Dividends paid to shareholders (Payments)/ proceeds from sale of investment securities Proceeds from issue of shares Dividends paid to non-controlling interests Net movement in loan Net Cash used in Financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the penod Effect of exchange rate changes on cash Cash and cash equivalents at the end of the period ?h'??il?glih ROU Jun-16 Mar-17 Audited Mar-16 5'000 $000 $000 172,917 294,425 168,668 (146,615) (247,172) (128,922) 26,302 47,253 39,747 1,090 2,993 1,700 (2,215) (1,638) (3,234) - (29,515) (19,451) - 27,117 23,861 14,339 20,570 8,085 (4,006) (8,352) (5,458) - 311 (4,405) (5,994) (3,946) 31,105 52,745 41,303 (24,188) (11,472) (6,532) (333) - (3,573) (680) (3) {100) (7,279) (4,548) 6,569 11 50 1,360 171 (750) 2 (172) (43) 12,978 - (24,849) (5,849) (7,833) (3,656) (7,007) 2,001 (6,389) 330 (6,900) (9,476) (1,968) (13,157) (9,115) (10,556) (27,309) (17,472) (4,300) 19,587 15,998 8,502 (10,027) (10,027) (93) (1,058) (203) 4,109 3,502 5,768