BRISBANE BUSINESS NEWS UNCOVERS THE TOP 50 LISTED COMPANIES 2015: 21-30
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.
21. AUSTRALIAN AGRICULTURAL COMPANY (AAC)
Between July and September, when its half-year ended, the company was "singularly focused" on this strategy.
Offshore sales now constitute 90 per cent of its business, up from 80 per cent in HY14. Sales of branded beef increased by 38 per cent and now account for 76 per cent of total sales.
The company's live exports have recovered from the temporary ban four years ago, with the volume returning to pre-2011 levels.
However, dry weather in Queensland has increased grain and fodder costs, driving up total expenses.
Garage-door division Gilderol continues to lose money, despite increased revenue, and the company also experienced slower-than-expected restocking for its Gainsborough door products. It responded by installing a new leader and team for its doors and access division.
It recorded a $12.8 million loss for the half-year, down from a $1.7 million profit in HY14. Its key priority for the next six months is to restore profitability to its doors and access segment. Read More
He was replaced by Jon Stretch, executive vice-president at energy management provider Landis+Gyr and former CEO of telecommunications company AAPT.
In HY15, ERM chalked up record electricity sales of 7.9 terrawatt-hours (TWh).
Unusual consumer activity prompted the company to downgrade its full-year prediction from 17TWh to 16.2TWh, but this would still represent a 15 per cent rise on FY14 and a sixth consecutive annual increase.
ERM has reduced its gas-focused capital expenditure as it prepares to sell its Western Australian gas assets to Empire Oil & Gas (ASX: EGO).
It recorded an impairment of $3 million in anticipation of the expected sale. The company has also acquired US-based provider Source Power & Gas, which holds retail operations in Texas, Ohio, Maryland, New Jersey, and Illinois. Read More
Revenue was up 29 per cent, while EBITDA was also up at $22 million. A slew of acquisitions in 2014 bolstered the legal services company's results, including Emanate Legal Services, Stephen Browne Personal Injury Lawyers and Sciacca's Lawyers.
Shine has forecast its full-year earnings to be between $42.5 million and $47 million, with further acquisition prospects in the pipeline. Read More
Renshaw, the successor to long-term CEO Andrew Buckley, did not reveal the reasons for his surprise departure. Chief financial officer Graham Yerbury remains acting CEO while the company begins the global search for a replacement.
The market responded by shaving 13 per cent off Cardno's share price, putting a dampener on its $31.5 million profit for HY15. Since HY14, the company's oil and gas segment has expanded from 14 per cent of its business to 26 per cent, with Cardno noting that its services often relate to regulatory requirements and are therefore less prone to negative effects from the weak oil market.
Less than 5 per cent of its activities are actual drilling and production. From July 2015, Cardno will consolidate its organisational structure into two regions: Asia Pacific and the Americas. Read More
26. NATIONAL STORAGE REIT (NSR)
Their income and underlying profit are already outstripping the original forecasts on their initial public offering (IPO). Occupancy for the IPO is standing at about 70 per cent, with 22 centres in Queensland and 82 across Australia.
The company retains about 21,000 residential customers and 9000 commercial customers. It also holds a 10 per cent interest in Southern Cross Storage Group.
Management of third-party centres provides another revenue stream for the company, with its net assets under management now worth more than $630 million.
The company posted a statutory net loss of $5.8 million, down from a $7.3 million net loss in the previous corresponding period. New data centre sales were up 164 per cent and revenue was also up 134 per cent at $26.7 million.
As a result, EBITDA was $3 million as opposed to a $3.4 million loss in the first half of FY14. NEXTDC is poised to deliver strong growth the remainder of this year, with a major international contract set to be earnings accretive and a strategic partnership with Dicker Data under way. Read More
The trust's sole investment is a 50 per cent interest in the Westfield Carindale shopping centre. At the end of December, more than 99.5 per cent of stores were leased, with total retails sales reaching $914 million for the previous 12 months. The centre is valued at $1.5 billion.
The trust currently has cash and cash equivalents of $1.6 million. The responsible entity for the trust is Scentre Management Limited. All of its operations are performed by Westfield employees. Read More