The Chairman and Directors of Port Denarau Marina Limited have reported the company’s half-year results for the period ending January 31, 2025.
The company has maintained a solid financial performance in the first half of the financial year, with Net Profit Before Tax of $2,167,007. Even though this reflects a 9% decrease compared to $2,390,459 for the same period last year, it represents a 9.4% above budget performance. The company had projected a lower profit than in 2024 due to planned repairs & maintenance on its water infrastructure; however, actual expenses were lower than anticipated.
Total operating revenue for the period amounted to $4,860,485, a 2% decline from the previous year. The decrease in revenue is primarily attributed to a drop in berthing revenue, largely driven by a 50% decline in superyacht berthing compared to the same period last year. This reduction was influenced by global events, including the 2024 Paris Olympics, the America’s Cup, and geopolitical factors, which diverted superyachts from visiting Fiji.
In recognition of the company’s strong financial performance, the Board of Directors has declared an interim dividend of $900,000, a 2.25 cents per share. Despite lower profit compared to last year, this 12.5% increased interim dividend when compared to the same period last year also reflects the company’s confidence in its future performance, supported by strong year-end projections. This declaration of dividend highlights the company’s commitment to delivering shareholder value while maintaining a prudent and sustainable approach to capital management.
Port Denarau Marina continues to invest in infrastructure to support long-term growth. As part of its expansion strategy, the company has commenced the superyacht jetty extension, adding seven new berths to meet increasing demand. Additionally, dredging works are underway to accommodate larger vessels, reinforcing. Port Denarau Marina’s position as the premier yachting destination in the Pacific.
Despite short-term fluctuations, the outlook for the 2025 yachting season remains positive. The management team continues to focus on operational efficiency, strategic investments, and market expansion to ensure sustainable long-term growth.
