QUEENSLAND ECONOMY ‘ROARS BACK TO LIFE’

Written on the 20 July 2012

QUEENSLAND ECONOMY ‘ROARS BACK TO LIFE’

THE Sunshine State’s top public companies fared better than other states in the 2012 financial year, according to the latest Deloitte figures.

The audit and financial advisory company’s 2012 Queensland Index (QI) dropped 5.1 per cent in the period, but significantly outperformed the benchmark S&P/ASX All Ordinaries’ 11.3 per cent decline.

Brisbane managing partner Tim Biggs claims the difference shows Queensland has its mojo back.

“Although the patchiness in Queensland’s economy is still very evident, economic growth is roaring back into life,” he says.

“In part that is a rebound in coal and farm sector production from last year’s lows, but an even bigger part has been played by the resource development boom.”

Chemical testing group Campbell Brothers was the top performer with a $573 million jump in market capitalisation (18.6 per cent).

Super Retail Group was runner-up with a $500 million increase in market cap (55 per cent), while engineering consultancy Cardno recorded a $467 million rise (80.8 per cent).

Other top-10 market cap winners include Transpacific Industries Group ($361 million), Dominos Pizza ($289 million), Virgin Australia ($235 million), AP Eagers ($213 million), Ludowici ($204 million) and the Bank of Queensland ($196 million).

The biggest losers were Linc Energy (-$1.09 billion), Billabong (-$1.08 billion), New Hope (-$1 billion), Bandanna Energy (-$615 million), PanAust (-$602 million), Intrepid Mines (-$469 million) and FKP Property (-$368 million).


Latest News

ADELAIDE APARTMENT BREAKS OFF-THE-PLAN RECORD WITH $3M SALE

AN apartment in 'The Adelaidean' residential development in Adelaide has sold for more than $3 million, which...

CABCHARGE GIVEN GREEN LIGHT TO BUY YELLOW CABS IN QUEENSLAND FOR $20M

THE consumer watchdog will not oppose the proposed acquisition of Yellow Cabs in Queensland by taxi payment service C...

SLEEPING ROUGH IN THE NAME OF CHARITY: 170 BRISBANE BUSINESS LEADERS TAKE PART IN THE CEO SLEEPOUT

OVER 170 Brisbane CEOs and business leaders will brave the cold tonight to fight homelessness in what will be the big...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

Related News

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

WAGERING GIANTS TABCORP AND TATTS GIVEN GREEN LIGHT FOR $11B MERGER

THE Competition Tribunal has approved Tabcorp's (ASX: TAH) $11bn takeover bid for Tatts (ASX: TTS) on the conditi...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter