The Brisbane Markets Limited Board has finalised and approved the financial results of the company for the financial year ended 30 June 2022.
The result reflects the ongoing resilience and sound performance of the underlying Brisbane Markets operations during a period of natural disaster and challenging economic conditions, as well as the further positive contribution from the company’s investment in Perth Markets.
The company has reported an underlying net profit before tax of $19.13 million, representing growth of 1.48% over the prior year. This reflects the operating result for Brisbane Markets and Perth Markets, prior to recognising the impact of property revaluations, flood impacts and other fair value movements.
The financial performance of the company is summarised below, including impact of revaluations and other adjustments:
The company has continued to improve its balance sheet with strong uplift in property values in Brisbane Markets and Perth Markets in addition to the operating performance contributions. As highlighted in the table above, at 30 June 2022 total assets stood at $506.97 million with net assets at $267.13 million.
The flood event is reported as contributing a positive contribution to profit to 30 June 2022, due to the insurance claim being settled. At this stage, this contribution is expected to cover a proportion of flood remediation cost incurred to date, and into the future.
The company’s financial performance will be further elaborated upon in the company’s Annual Report, which will be distributed to all shareholders during October 2022, and at the Annual General Meeting, set down for Wednesday, 9 November, 2022 at 9am.
PAYMENT OF DIVIDEND
The Board of Directors wish to advise shareholders that a fully franked final dividend for the year of 8 cents per ordinary share, has been declared.
The total dividend paid in respect of the 2022 financial year will be 16.75 cents per ordinary share, fully franked, consistent with the prior financial year.
The final dividend of 8.00 cents per ordinary share, fully franked, will be paid on Wednesday, 19 October 2022.
This will be paid to shareholders on the share register of the company at 5pm on Wednesday, 5 October 2022.
SHARE TRADING
Information in relation to recent share trading which has occurred is included on our website at https://brisbanemarkets.com.au/corporate/ and this information is updated on a monthly basis.
Any shareholder wishing to sell shares can do so by private treaty where they have identified a buyer, or can be put in touch with interested buyers by contacting Brisbane Markets Limited via email at shares@brisbanemarkets.com.au or phone (07) 3915 4200.
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.