Brumby’s up 18 per cent w record half year result
March 20, 2006
Brumby’s up 18 per cent with record half year result
Leading Australian and New Zealand franchise Brumby’s Bakeries Limited (BSX:BBH) today reported a 18 per cent increase in its net profit after tax for the half year to December 31, 2005 to $993,000, up from $814,000 for the corresponding period the previous year.
Brumby’s managing director Michael Sherlock said the earnings increase was fueled by a growth in revenue of 11.0 per cent as well improved efficiencies in operating costs.
“This rise in revenue has come from the combination of outstanding growth in sales by individual franchise stores as well as a remarkable expansion in store numbers,” Mr Sherlock said.
“As at December 31 there were a total of 314 franchisees across Australia and New Zealand including the opening of a record of 18 new stores in the six month period.
“That includes the successful opening in Melbourne of our forth and fifth new concept stores Brumby’s Go!
“At the same as revenue has risen 11 per cent, we have been able to improve efficiencies, producing the 18 per cent profit increase after tax.
Dividends paid to dividend to December 31, 2005, were 3.0 cents fully franked per share.
As previously announced the dividend to be paid on March 31, 2006 is 3.0 cents fully franked per share up from 2.5 cents for the previous corresponding period.
Brumby’s listed on the Bendigo Stock Exchange (BSX) in December 2003 at $0.55.