FSG Profits Up 27 Percent

FSG, which has five subsidiaries spanning into South Africa and Zambia, realised a 19 percent jump in revenues for the year ending 31 December 2011 to P86.3 million. Expenses, on the other hand, were up 17 percent, led by growth in marketing and administration costs associated with the Group's expansion to new locations and the development of a common brand countrywide.

"During the year, the group invested further in the modernisation of its fleet and also expanded to new locations and developed a common brand image across the country," reads a directors' commentary accompanying the results.