Brisbane Markets Limited (BML) held its Annual General Meeting (AGM) today, Wednesday, 11 November 2020. During the course of the AGM, the Board reported on a number of key figures relating to BML’s ongoing investment in developing and improving the Brisbane Markets site.
Operating revenue for the financial year totalled $44.81 million, up by 0.92% on the prior year.
As at 30 June, BML had total assets of $395.03 million, up by 4.11% on last year’s figure of $379.42 million. The net asset figure stood at $191.68 million, up by 2.15% on the prior year.
BML’s continued investment in creating new lettable space has seen the total lettable area within the site, excluding land leases, increase to 141,808m2 at 30 June 2020. This figure has shown an upward trend over time as a number of older properties have been refurbished and as new premises, predominantly warehouses, have been constructed, creating additional revenue streams for BML.
As you are all aware, there has been a great deal of uncertainty in the community due to the COVID-19 pandemic and its impact on the lives of all Australians. BML has been incredibly fortunate to have finished the financial year with a solid result for our shareholders despite these challenges. The Board was therefore, pleased to report that the group paid a fully franked dividend at 16 cents per fully paid share. While, this represents a slight reduction on the previous year, this is in line with general business and economic conditions faced in the second half of the 2020 financial year.
It was also announced at the AGM that directors, Mr Anthony (Tony) Kelly and Mr Noel Greenhalgh, were due to stand for re-election. As no other nominations were received, Mr Kelly and Mr Greenhalgh were both re-elected unopposed.
Shareholders who were unable to attend the meeting were given an opportunity to provide questions to the Board and the Company’s external auditor in advance of the meeting to be addressed at the meeting. No questions were received. To view a full copy of the AGM presentation, please click here.
Following the AGM, the Board convened for its November Board Meeting. At this meeting, Mr Anthony (Tony) Joseph was returned as Chairman and Mr Anthony (Tony) Kelly was re-appointed as Deputy Chairman for the 2020/21 term.
Shareholders continue to show strong support for the direction of the Company under the leadership of the Board of Directors, which remains unchanged as follows:
- Anthony (Tony) Joseph, Chairman
- Anthony (Tony) Kelly, Deputy Chairman
- Bruce Hatcher, Director
- Stuart Lummis, Director
- Evonne Collier, Director
- Noel Greenhalgh, Director
- Peter Tighe, Director
- Andrew Young, CEO and Director
Board of Directors
Brisbane Markets Limited
For more information regarding this notice, please contact BML on (07) 3915 4200.