BIL up 39pc on Thistle hotel sales

Investment company BIL International yesterday reported a 39 per cent rise in full-year profit.

The Singapore-based company, formerly New Zealand corporate raider Sir Ron Brierley's Brierley Investments, posted an after-tax operating surplus of US$86.9 million ($124.71 million) for the year ended June 30.

The result was based on total operating revenue of US$343.5 million, up 15.4 per cent, and was boosted by US$89 million in proceeds from the sale of six Thistle hotels in April this year.

Earnings per share rose to 6.3USc from 4.6USc. The company will pay a dividend of 35Sc (30.6c).

- NZPA