BRISBANE'S TOP LISTED COMPANIES 2015
Written on the 10 April 2015 by Laura Daquino
BRISBANE'S biggest businesses are just getting bigger.
Brisbane's top 10 publicly listed companies have collectively grown by more than 5 per cent over the past year, lifting market capitalisation by $3 billion to more than $55 billion.
'THE MORE THINGS CHANGE...'
Greig says Queensland's five business buckets remain the same - mining, energy, agribusiness, tourism, and construction and infrastructure - despite variance in their contents.
WHO ELSE IS IN THE MONEY?
The biggest movers up on Brisbane Business News' Top Companies list are companies diversifying and innovating their offerings to perfection.
Greencross' (ASX: GXL) acquisitive growth in stores and clinics has been rewarded with an almost 197 per cent growth on market capitalisation year on year. Likewise, Corporate Travel Management's (ASX: CTD) global acquisitions have paid off with a 96 per cent growth.
The techies and telcos are heating up too.
Electronics, IT and communications company Vita Group (ASX: VTG) has seen its market capitalisation grow 128 per cent year on year, and similarly, Technology One's (ASX: TNE) market capitalisation has almost doubled.
More tech companies are cropping up in Brisbane - OtherLevels (ASX: OLV) recently made a strong sharemarket debut, while Bevan Slattery's latest venture Superloop will be lodging a prospectus soon.
"The digital disruption movement is certainly alive and well in Queensland," says Greig.
"Our digital and technology business at Deloitte Queensland is one of the biggest growing parts of our practice.
"If you use that as a proxy for demand for those types of services, I think you will see some of those emerge as listed companies."
There is also a critical measure - a catalyst for all else - missing from our list, according to Greig, and we think he is right.
"It's one thing for businesses to have their fundamentals right - but where is business confidence heading exactly?" says Greig.
"Uncertainty in general, whether around the state's political situation or the powers at hand, isn't necessarily a confidence booster."
IBISWorld's Stephen Gargano says record low interest rates are driving increased purchasing power, and we are especially seeing the effects of this on real estate, Australia's most loved asset class.
"Over the past 12 months, Queensland has been subject to many of the same conditions driving fevered buying activity across the southern states of Australia, and Brisbane's relative affordability compared to Melbourne and Sydney is expected to lead to further activity," says Gargano.
"Record low interest rates are driving increased purchasing power, and increasing interest from foreign investment and domestic funds managers such as Cromwell Property Group are combining to push up prices.
"Despite these conditions, the underlying health of the commercial property sector is weak. Office property vacancy rates remain high in Brisbane, and large increases are expected over 2015 and 2016, which may cause rates to deteriorate further."
FRESH FACES, AND A CRACK IN THE CEILING
Another year, another lot of new faces.