BRISBANE BUSINESS NEWS UNCOVERS THE TOP 50 LISTED COMPANIES 2015: 1-10
10 April 2015, Written by Laura Daquino, Nick Nichols, Jenna Rathbone, Karen Rickert & Antony Scholefield
Brisbane Business News uncovers the city's leading companies and the stories behind their success.
The company suffered a $250 million blow from the Brisbane hailstorm last November, which may make a 10 per cent return on equity target for this financial year more difficult to reach, according to CEO Patrick Snowball.
Suncorp's general insurance division, which contributes the largest portion of the group's revenue and profit, netted a profit of $419 million, down 11 per cent from the previous corresponding period.
However, its banking and life insurance divisions saw profit rises of 68 per cent and 291 per cent respectively. Read More
The company credits "transformation benefits" for a $57 million reduction in operating costs, while it has also removed a surplus fleet and started running longer trains in Blackwater, Newlands, and the Hunter Valley corridors.
The company admits there are short-term challenges for companies that rely on coal and iron ore demand, but it believes that mid- and long-term demand will be strong. It experienced a $12 million revenue drop and 14 per cent volume decline in its iron ore operations in HY15, although coal revenue rose by $12 million.
It has $1 billion in cash on the books. Aurizon is currently in exclusive negotiations with the federal government over the development of a freight hub at Moorebank in Sydney, which it believes will unlock transport gridlock. Read More
The group has boosted its profit just over 1 per cent from the prior corresponding period, bearing in mind this comes at a time of increased investment in physical and digital infrastructure.
Digital is a central tenet of the company's strategy, on the back of online sales seeing the most growth out of all divisions in the half year to December.
Physical wagering sales declined in Queensland over the period, but the group is confident its "smart" strategy of integrating more technology in its stores through its UBET launch in April will deliver a promising payoff. Read More
Statutory profit was up 14 per cent to $154 million, compared to the previous period.
Despite the strong results, the financial institution maintained a cautious stance and will focus on low-risk strategies and sustainable growth.
BOQ reported strong growth in the home-loan market, particularly in Queensland.
The bank also absorbed Virgin Money Australia into its core retail banking service in March, leading to a senior executive reshuffle. Read More
The group's underlying profit may have declined 7 per cent, but its projected full-year result, of between $360 million and $390 million, still compares to last year's profit of $376.5 million.
The Australian leisure market has slumped for the 29-brand strong company in recent times.
This has offset record sales in overseas markets, while other domestic hurdles include rising staff costs as the company expands its footprint and incurs wage increases.
However, Flight Centre anticipates organic growth being on its side and intends to capitalise on this by targeting three core customers. Read More
The group's eastern seaboard properties - The Star Sydney, Jupiters Gold Coast and Treasury Brisbane - all collected profits that were higher than the same period last year.
Overall, the group enjoyed a profit increase of 111 per cent. With that, gambling and gaming were both up, supported by a sharp increase of 86.1 per cent from the group's international VIP business. Read More
The company's foray into overseas markets from Asia to Europe has been successful, even in places where pizza isn't traditionally the go-to convenience food, such as Japan.
With a NPAT up 44.2 per cent, owing to cost leadership and digital innovation inviting stronger sales, shareholders will delight in a fully-franked dividend up 39 per cent from the previous corresponding period. Read More