BIL posts $97 million full-year profit

Singapore-based investment company BIL International Ltd today announced a full year net profit of US$62.6 million ($96.70 million), up from a US$60.3 million loss last year.

The company said it would pay a first and final dividend of S2.5c per share (NZ2.3c) subject to shareholder approval.

BIL's main assets are British hotel chain Thistle Hotels and Bass Strait oil and gas royalties.

Thistle's results had now been consolidated into the company's results. BIL now owns a 100 per cent stake in Thistle, up from 45.9 per cent before May last year.

Earlier this year the company said it had booked US$21.1 million from the sale of Air New Zealand shares.

BIL shares were 3c higher at 90c in early trade on the NZSX's main board in early trade today.

BIL's main listing is on the Singapore Stock Exchange.

- NZPA