BBNC shows profit decline for year

Posted: Thursday, August 30, 2001

ANCHORAGE (AP) -- Bristol Bay Native Corp. earned a $796,000 profit during its fiscal year ended March 31, compared to $11.2 million profit last year, the company said.

The Anchorage-based regional Native corporation based the decline on stock market losses and a failed investment in Alaska Marketplace, an Anchorage and Mat-Su supermarket chain that went out of business.

The company's annual report said its investment portfolio lost $5.6 million in 2001. Last year, it gained $13 million.

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