Hamilton, Bermuda, August 4, 1998 - The Bermuda Bakery Ltd. today reported six month earnings for the period ending June 30th, 1998.
The Bakery Division's profit rose substantially from $30,852 in 1997 to $103,893 in 1998. Rental Division income also rose from $197,564 to $265,435. While total net income for the period was $361,282 versus $974,969 in 1997, which included $746,553 relating to the recovery of fraud costs.
Total assets for the period rose to $5,188,007 from $4,848,332 in 1997.
Dividends paid were also up, $125,505 versus $122,211 for the same period in 1997 and shareholders equity grew to $4,994,800 from $4,556,396.