The mostly-state owned Fiji Sugar Corporation has reported an operating profit of 4-point-2 million US dollars for the last financial year.
This marks a sharp turnaround from the previous year's loss of
4-point-4 million U.S. dollars.
The company chairman, Bhoo Gautam, has attributed the profit to improved milling efficiencies as a result of mill upgrading and the sale of extra sugar to the EU after some ACP countries couldn't meet their quota.
Mr Gautam says the profit was achieved despite staggered reductions in the price paid for sugar by the EU.
To counter declining production of sugar cane, Mr Gautam says the FSC is considering going into planting cane itself.
The company is also planning diversification into ethanol production and the co-generation of electricity using sugar milling waste.
