Neville Bell has been returned as chairman of the Brisbane Racing Club and believes Queensland's premier club can look forward to a bright future.

About 150 members attended the BRC's annual general meeting on Wednesday where the club declared a $779,000 profit.

At the meeting Bell and committeemen Steve Gagel and Simon Gleeson were returned unopposed.

Bell, who has been chairman for seven years, said the BRC's master plan of diversifying the clubs interests had paid dividends and those benefits were set to increase further.

The BRC has interests in a residential unit complex, child minding centre, shopping centre, two licensed clubs and an aged care village that is under construction.

“It would be interesting to see how many other race clubs in Australia would have declared a bottom-line profit this year. Probably not a lot,” Bell said.

“I think our plan is working and can only further boost our future prospects.”