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

BRAMBLES TUMBLES AFTER REDUCING GUIDANCE

BRAMBLES (ASX: BXB) will miss its first-half guidance due to cost pressures at its North America business.

The com...

VILLAGE ROADSHOW PARKS HURT BY DREAMWORLD TRAGEDY

QUEENSLAND visitors to Village Roadshow (ASX: VRL) theme parks have declined 12 per cent in the wake of four deaths a...

ASF UNVEILS TRAFFIC PLANS FOR THE SPIT

A SECOND bridge over the Nerang River is the centrepiece of the ASF Consortium's plan to improve traffic flow ...

BHP AND VALE EDGE CLOSER TO $47.5 BILLION SAMARCO DAM DISASTER SETTLEMENT

BHP Billiton (ASX: BHP) and Brazilian mining company Vale have entered into a preliminary agreement with Brazilian fe...

Related News

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal i...

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter