Owner, operator and developer of franchises, Allied Brands, today announced a record net profit after tax (NPAT) for the year ended 30 June 2008 of $5.70million, up 187 per cent on last yearÕs $1.99million. The result was driven by record operation revenue of $39.6million, a 255 per cent increase over the previous corresponding period. The NPAT result equates to earnings of 6.1 cents per share against last yearÕs results of 3.5 cents per share and is based on a tax rate of 22 per cent.

Peter Graham, managing director of Allied Brands, said, “Allied Brands strategy of operation across a range of products and services with a skew towards the affordable and ÔtreatÕ end of the retail marketplace has helped the company insulate itself from the impact of interest rates and petrol prices on the retail environment. Like-for-like store sales growth of four per cent has been achieved across the companyÕs retail brands.”

Franchise brands Awesome Water, Cookie Man, Kenny’s Cardiology and Baskin Robbins are all owned by Allied Brands. Awesome Water performed ahead of expectations during the short eight months of its Allied BrandÕs ownership, and Cookie Man and KennyÕs Cardiology both achieved their targeted profits.