CREDIT Corporation PNG Ltd has declared a healthy profit of K33.12 million for last year.
Chairman of the board of directors Garth McIlwain last week announced that the after-tax operating profit from group core business activity consolidated financial results for CC PNG Ltd has surpassed the 2008 end of profit of K29.62 million.
Mr McIlwain said: “This is a pleasing result particularly when the economic uncertainties created by the global financial crisis are considered.”
He said financing activity business volumes exceeded budget across all grouping locations in Fiji, Solomon Island, Vanuatu and PNG.
Mr McIlwain said real estate rental revenues from the Era Dorina estate exceeded budget project.
Credit House remain fully tenanted while significant capital expenditure is currently underway for the upgrade of air conditioning, lift capacity, foyers and façade.