The Brisbane Markets Limited (BML) Board has approved the financial results for the half-year ended 31 December 2021, which have been reviewed by the company’s auditors, BDO.
The group achieved an operating profit before tax (excluding the valuation adjustment and Perth Markets Limited contribution) for the half-year of $8.44 million, which represents a decline of 5.38% over the same period last year, mostly due to the government grants received in the 2020 period. The core trading performance reflects an increase in operating profit, after removing this one-off item.
The statutory net profit of the group after income tax for the half-year ended 31 December 2021 was $26.67 million.
As recently announced, BML has commenced construction of a new 5,987 m² warehouse at South Gate West, with completion due in December 2022. A range of other achievements are outlined in the attached Report to Shareholders.
The results also reflect an increase to the property valuation of $28.13 million, with the property value increasing to $402 million at 31 December 2021.
Total Assets have increased by 7.03 % since June 2021 to $453.2 million.
Net Assets have increased by 11.97% since June 2021 to $230.7 million.
Net Assets per share is $4.23 as at 31 December 2021, up from $3.78 per share as at 30 June 2021.
Please see the Report to Shareholders for a more detailed overview of the results for the half-year.
PAYMENT OF DIVIDEND
The Board of Directors is also pleased to advise shareholders that the Group’s operating result remains strong, and, on this basis, the Board has declared an interim dividend for the half-year of 8.75 cents per share, fully franked. This dividend reflects the continuing solid underlying performance for the period. This reflects an increase of 0.25 cents per share over the same period last year.
The dividend will be paid on Wednesday, 23 March 2022 to shareholders on the share register of the company at 5pm on 9 March 2022.
ONGOING INFORMATION UPDATES
BML will provide ongoing updates to shareholders in relation to any significant matters that may occur. BML will continue to make all shareholder announcements available on its website. In addition, BML will also continue to email shareholders where an email address has been supplied or mail the relevant information to shareholders where we do not hold an email address.
We encourage all shareholders to receive updates by email, and direct payment of dividends to your bank account. Shareholders can update communication preferences and arrange for direct credit of dividends to your bank account via the investor page at www.linkmarketservices.com.au.
FOR FURTHER INFORMATION
To view the full Financial Report for the half-year ended 31 December 2021, please download it here.
Andrew Young
Managing Director and CEO
Shareholders interested in buying or selling shares in BML, or who need any information in this regard, may register their interest by sending us an email or by completing the online enquiry form here.
For more information regarding this notice, please contact BML on (07) 3915 4200.