Details released in the trust's annual report for the financial year ended March 31, 2012, indicated that the trust made a net operating loss of more than $40,000, but trust chairman Ali Brosnan said that was a "significant improvement" on last year's $1.4 million loss.
The previous year's losses resulted from changes to legislation, increased insurance costs and depreciation, he said. .
"There was an impairment of $918,000 on the Northstar, which was a major thing, and this year it's been helped a wee bit by depreciation changes."
Last year's $299,591 loss was turned into a $422,190 operating profit this year.
Although income from both the Brydone Hotel and Fahrenheit bar fell, total liquor sales rose more than $320,000 from the previous year, to $8,873,847, mainly due to the expansion of the trust's Liquorland and Northstar operations.
"We're pretty happy. We have had quite a turnaround at the Oast House Liquorland franchise and the Northstar has improved in all aspects, from accommodation [to] food and beverage.
"The hospitality industry throughout the country has been put under severe stress, and our figures are proof we have more than held our own in the current environment. To have increased operating profit by $260,000 in a recessionary environment is very pleasing."
Mr Brosnan said management changes introduced in July last year had gone a long way to the improved performance.
