2016 SYDNEY TOP LISTED COMPANIES 41-50
Written on the 25 November 2016 by Lin Evlin, Paris Faint, Chelsey Landford, Nick Nichols & James Perkins
THIS is your access to the definitive list of Sydney's Top Listed Companies, compiled by the editorial team at Business News Australia.
This is the first of what will be an annual list of companies that are some of the heavyweights of Australia's business scene.
More finance companies round out the top 50, while a couple of media companies also enter the fore.
41. Vocus Communications
Profit surged 461 per cent while underlying EBITDA jumped 318 per cent to hit $215.6 million, as stakeholders were sated by the issuing of dividends at 8c per share, up 300 per cent.
42. QUBE Holdings
INVESTOR sentiment dropped after Qube's FY16 performance fell short of analyst predictions.
The logistics giant posted an 18 per cent slide in underlying net profit to $86.5 million due to difficult conditions in its ports and bulks division, after four major contracts were terminated or restructured.
43. Platinum Asset Management
VOLATILITY in global financial markets impacted the profit performance of Kerr Neilson's (pictured) Platinum Asset Management this year.
Revenues were down and costs were up, largely due to staff and business development activities.
The financial services company recently launched two new products aimed at helping investors both domestically and abroad invest in offshore equities markets.
Platinum Asia Investments raised $293 million and listed on the ASX in September, while three new Ireland-based funds under the Platinum World Portfolios Plc banner sought to push the Platinum brand into offshore markets by targeting large institutional investors.
The company says the current investment climate is at odds with its investment style, which has led to a sub-par returns from its largest fund.
However, over the past five years Platinum says its funds in Europe, Japan and Asia have outperformed their competitors.
While broadly weaker returns have led to net redemptions, Platinum describes this trend as 'transient'.
The company had $23.8 billion in funds under management at the end of August 2016. A fall in the company's share price led Platinum Asset Management in September to announce a buyback of up to 10 per cent of its shares.
44. Whitehaven Coal
Having focused on cutting costs, increasing production and paying down debt during the tough operating conditions of the previous 12 months, the sudden coal price recovery came as a welcome surprise for the Whitehaven Coal.
45. Link Administration Holdings
IN ITS first annual report since listing on the ASX late last year, the Link Group delivered a strong profit result of $42.4 million.
46. Investa Office Fund
INVESTA Office Fund wrapped up the 2016 financial year on a $493.8 million net profit high, up 175.6 per cent on the previous year.
47. Seven Group Holdings
THE ramp up in mining production over the past year has benefited Seven Group Holdings through its investment in industrial services business WesTrac, which is one of Australia's largest CAT dealerships.
As MD and CEO Ryan Stokes (pictured) says in the 2016 annual report, 'we benefited from the ongoing demand for parts and services created by the high level of mining production'.
48. Macquarie Atlas Roads Group
MACQUARIE Atlas Roads Group sped into the second half of CY16 with interim profits up 34 per cent to $54.2 million.
Results were driven by proceeds from the toll road operator's sale of its 22.5 per cent stake in the Chicago Skyway toll road, coupled with higher toll revenue from the Dulles Greenway in Virginia and France's Autoroutes Paris-Rhin-Rhone.
Chief executive Peter Trent (pictured) says the group will 'keenly' consider buying out the remaining share of the 22km Dulles Greenway, 50 per cent of which it already owns.
In September, Macquarie Group sold half its 20 per cent stake in Macquarie Atlas in a deal worth $282 million. The sale comes amid speculation that the investment bank, which has externally managed MQA since 2011, could soon move to cut its remaining ties.
The group announced an interim dividend of 9c per share, with an expected full-year distribution of 18c.
49. Worley Parsons
WORLEY Parsons is highly exposed to oil and gas and mining, two industries which have been at the bottom end of the respective price cycles in recent years, but despite this, the company has staged a market cap fightback this year.
50. Event Hospitality and Entertainment
BIG screen equalled big profits for Event Hospitality and Entertainment Ltd this financial year.
Author: Lin Evlin, Paris Faint, Chelsey Landford, Nick Nichols & James Perkins