The Board of Brisbane Markets Limited, the fruit and vegetable industry based owner and manager of the Brisbane Markets, has announced its financial results for the half year ended 31 December 2016, with a net profit after tax of $10.276 million.
The pleasing result, which was announced to shareholders on Friday, included strong underlying growth in the operating profit of the Brisbane Markets of 9.67%.
BML Chairman, Tony Joseph, said the positive result was very satisfying.
“The Board is very happy with this result,” said Mr Joseph.
“Our strategic investment has again proven fruitful and the outlook is positive,” he said.
Continued capital expenditure of $5.1 million for the period, including the completion of a new service station fronting the Sherwood Road site, has contributed to an increase in total assets of 2.65% since June 2016 to $302 million, with the group’s net assets increasing by 8.65% to $131.3 million for the same period.
The interim dividend to be paid to shareholders for the half year is 8.0 cents per share, fully franked.
The company’s financial performance was subject to review by the company auditors, BDO.