1 Sep 2008

Fiji Sugar Corporation reports high losses over the last financial year

10:11 am on 1 September 2008

The Fiji Sugar Corporation Limited has reported a loss of more than twelve million US dollars for the financial year ending May 2008.

The previous year, FSC recorded an operating profit of just over 4 million US dollars.

The Sugar Corporation's director, Marika Gaunavou, has told the Fijilive website the results underline the much need restructure of the sugar industry as a whole, to ensure the industry is competitive in the international market and meets stakeholders' expectations.