Australia’s buoyant tourism market has propelled BridgeClimb to a record profit of $16m for the 15/16 financial year.

A report in The Australian says the profit was achieved on revenue of $50m and was up 25% over the previous year.

BridgeClimb has a monopoly on high-altitude tours of the Sydney Harbour Bridge.

Founded by Paul Cave, it is majority owned by two of Australia’s richest men – Brett Blundy and Jack Cowin – through a joint venture that controls 61%.

Blundy is believed to own an additional 14% in the business.