Bandrill expects profit increase of up to 20%

Henderson-based drill and blast company Brandrill Ltd has announced an expected increase in its annual profit before tax of around $1 million, as well as the appointment of Ian Williams as a company director.

The profit forecast is an estimated 15-20 per cent above the $5 million after-tax profit the company predicted earlier this year.

In an announcement, the company said that an accounting requirement to recognise a deferred tax asset was likely to increase its after tax profits to around $2 million.

Mr Williams, who currently serves as chairman of the Port Hedland Port Authority, has a long career in the Australian mining industry - being a fellow of the Australasian Institute of Mining and Metallurgy and of Engineers Australia. Mr Williams will commence his term as a director tomorrow.