“Operationally, the quarter and a half year results continue to signal strong revenue growth as net operating profits for the quarter was B$74,462 and B$455,476 respectively,” the company said in a press release.
Benchmark also reported its half year earnings performance before consolidation was $B334, 988.
The company said further in its press release: “The strength of our investment portfolio was the catalyst behind the strong earnings growth and also contributed to offsetting the reduction in revenue from the suspension of ICD Utilities dividend.
“Operationally, Alliance Investment Management Ltd, our class one licensed broker dealer had a strong first half performance with revenue and earnings growth up 27 and 35 percent year over year.”
Further, the company said revenue growth was led by investment income and brokerage commissions and added that trading activity was strong during the period.
“Net profit contributed for the half year was $B418, 800. Benchmark Advisors (Bahamas) Ltd our Bahamian investment management company contributed net earnings of B$16,738 for the half year,” the press release read.
Compared with the 12 cents earnings per share (or $584,064) for the six months of 2005, earnings per share for the first six months of 2006 was 16 cents per share (or $B770, 526).
Net assets stood at B$5,931,743 after the first six months this year.
Book value was B$1.20 per share, up 19 cents year over year and 16 cents from year end, 2005 Benchmark reported.
The Nassau Guardian
