BBX announces record net profit
BBX Holdings Limited (BBX) has announced a record net profit after tax of $639,819 for the year ended June 2006. This is an increase of $385,090 or up 151 percent on the previous year.

The Company is examining the payment of a fully franked dividend of 50 percent of after-tax profits, subject to regulatory approval. Shareholders will have the option of taking payment in cash, trade dollars or reinvestment in shares.

Operating revenue of $8,779,430 was 6.1 percent higher than last year with earnings per share for the financial year of 0.0092 cents.

Trading activity in the first quarter was adversely impacted by the company’s fundraising efforts and the listing process, although growth in revenue recovered in third quarter.

Trade volume (in BBX Trade Dollar currency) attributed to Members rocketed past $100 million for the first time in the company’s history and reached $146 million for the year, an increase of 61 percent over the previous year

Active membership numbers passed 4,500 for the first time, reaching 4,535 or up 5.5 percent.

In recent months master franchises were signed to establish BBX New Zealand, BBX India and BBX China. Overseas franchise interest and partnership enquiries were received from a number of other countries including Japan, Singapore, Malaysia, Indonesia, Iran, Vietnam, Portugal, Mexico and the United States.

The successful establishment of overseas representation has exceeded expectations and will be reflected in future results.

During the year the fundraising and successful NSX listing of the BBX Property Investment Fund Limited was achieved. More than $100 million of real estate has been offered for purchase using 30 percent BBX Trade Dollar currency and 70 percent cash.

As well as continuing to grow the membership base, the company is also exploring opportunities to offer a broader range of financial services in areas such as mortgage broking, insurance, business finance and financial planning.

The company is looking to finalise a joint venture to facilitate financial advice to members through BBX Financial Advisors Pty Ltd. and the establishment of BBX Money Pty Ltd.

BBX is Australasia’s first publicly listed trade exchange manager and listed on the Australian Stock Exchange on 12 August 2005 with 27.7 million shares quoted at an issue price of 25 cents.

Through the company’s partner in China, the launch of BBX China will introduce a further 300,000 businesses to the membership base of BBX, giving the company approximately 307,000 members in Australia, New Zealand, India and China and making it the world’s largest reciprocal trade exchange in membership terms.

The company can be contacted on 1800 222 229. The website is www.ebbx.com.

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Released for BBX by Dennis Rutzou Public Relations.
For further information contact Dennis Rutzou
or Fiona Pennington on (02) 9413 4244.