BRUMBYS BAKERIES LIMITED today posted a profit before tax and amortisation
of $915,000 for the six months to December 31, 2004, an 18 percent
increase on the $774,000 recorded in the corresponding period the
Brumby's chairman Terry O'Dwyer said the result was achieved on
revenue of $4.19 million, an increase from $3.81 million or 9.8
percent more than the corresponding period in 2003.
Amortisation of $664,993 of the franchise agreement goodwill is
a non-cash item and the directors do not regard it as operationally
EBITDA was $1.09 million, up from $975,000 or 12 percent more than
in the corresponding period in 2003.
Brumby's directors today also announced the March dividend at three
(3) cents fully franked, an increase of 0.5 cents.
Mr O'Dwyer said Brumby's strong half was very satisfying for the
directors who had invested over the recent past in internal development
programs which were now bearing fruit.
Brumby's managing director Michael Sherlock said the strong result
was particularly pleasing as Brumby's recently opened its 300th
store in Australia and New Zealand.
"And we are still investigating expanding into the potentially
lucrative Asian market,'' Mr Sherlock said.
Since listing on the Bengigo Stock Exchange (BSX) in December 2003,
Brumby's share price has risen from $0.55 to $1.15 yesterday.
"The option of listing on the Australian Stock Exchange was
discussed by the Brumby's board yesterday but no decision has been
made,'' Mr Sherlock said.