Benchmark: No 3.7m property revalue likely 'in short-term'

Thu, May 5th 2011, 11:00 PM

By NEIL HARTNELL

Tribune Business Editor

Benchmark (Bahamas) is unlikely to revalue its $3.7 million Carmichael Road commercial centre "any time soon" despite the company's belief the complex is worth much more than its balance sheet carrying value, the issuance of some $2 million in preference shares last year once again preventing it from falling into negative equity.

Despite sustaining a $236,372 net loss for the year to end-December 2010, taking the BISX-listed investment firm's accumulated deficit to $4.22 million, Julian Brown, its chairman and president, expressed optimism it would return to profitability in 2011 as its investment portfolio improved in line with econom ...

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