You are not permitted to download, save or email this image. Visit image gallery to purchase the image.
The trust, which owns the Brydone Hotel, Northstar Motel, Oasthouse Liquorland and Sports Central Brewhouse, this week reported an after-tax surplus of $314,634 for the year to March 31, compared with $346,630 for the previous corresponding period.
Trust chairman Ali Brosnan said, while lower, the surplus was in line with expectations given the trust's investment in its ongoing refurbishment project, largely focused on the Brydone Hotel.
"Considering the amount of work [done] upgrading the rooms and [on] deferred maintenance, it's pretty good.
"I think the biggest thing is over the last four years [is] we've improved our equity by $1.109million. The value of the business is going to grow at a lot faster rate going forward because we've got revaluations coming up and the business is doing better."
In the year to March 31, the trust spent $176,594 on repairs and maintenance. Trust general manager Cathy Maaka said there has been a "build-up of deferred maintenance", which was now being addressed.
Mr Brosnan said the trust was now in a financial position to undertake the work.
"In the past we hadn't been in a position to be able to do this and we're doing this out of cash flow, plus we're making profits on top of that."