DOCSLIB.ORG

Annual Report 2009

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2009 Macmahon Holdings Limited ACN 007 634 406 Annual Report 2009 Level 3, 27-31 Troode Street, West Perth WA 6005 Tel: +61 8 9232 1000 Fax: +61 8 9232 1001 Email: [email protected] www.macmahon.com.au Annual Report 2009 Calendar of events 27 November 2009 Annual General Meeting February 2010 Release of half year results August 2010 Release of full year results Offices and officers Company Secretaries E V Gregoriadis K A Gunellas Principal Registered Office Level 3, 27 – 31 Troode Street West Perth WA 6005 Telephone: +61 (08) 9232 1000 Facsimile: +61 (08) 9232 1001 Location of Share Registry Computershare Investor Services Pty Ltd Level 2, 45 St George’s Terrace Perth WA 6000 Securities Exchange The Company is listed on the Australia Securities Exchange. The Company is listed as “Macmahon” with an ASX code of “MAH”. Other information Macmahon Holdings Limited, incorporated and domiciled in Australia, is a publicly listed company limited by shares. Feedback Macmahon would appreciate your feedback on this report. Your input will assist us to improve as a business and develop our report further to suit your needs. To respond, please either email ([email protected]) or mail to: Investor Relations PO Box 198 Cannington WA 6987 www.macmahon.com.au Macmahon Holdings Limited is a leading civil construction and mine contracting company listed on the Australian Securities Exchange (ASX). Operating for more than 45 years, Macmahon has grown to become an ASX/S&P200 company, employing more than 3,000 people across Australia, New Zealand and Asia. Heading Contents Chairman’s address 2 Chief Executive Officer’s report 4 Chief Financial Officer’s report 6 Map of operations 8 Strategy and outlook 10 Construction business 12 Mining business 14 People, safety and health 18 Environment and community 20 Directors’ report 24 Corporate governance statement 40 Auditor’s independence declaration 46 Income statements 47 Statements of recognised income and expense 48 Balance sheets 49 Statements of cash flows 50 Notes to the consolidated financial statements 51 Directors’ declaration 99 Independent audit report 100 Summary of consolidated results 102 ASX additional information 104 1 Chairman’s address Richard (Dick) Carter Chairman 2009 was a challenging year for the Company. The global financial crisis, coupled with declining commodity prices led to reductions in work and a decrease in new business opportunities. I am disappointed to report a net profit after continue to focus on internal efficiencies and Mackenzie’s calibre joining the Board, and tax of $17.2 million for the year, a material strengthening its capabilities to ensure it is in welcome him to Macmahon. decline on the 2008 result and the first the best possible position to benefit from the decrease in underlying earnings in nine upturn in the economy. While we have faced a number of years. hurdles during the year, the Company Macmahon recognises the need for high has responded quickly and effectively to A number of factors contributed to this standards of corporate behaviour and restructure the business to suit the new result, both external and internal to the accountability and as such, the Directors environment. We are a resilient Company Company. support and adhere to the ASX Corporate and I am proud of the way our management Governance Council’s Corporate Governance team has guided us through the challenges Against the backdrop of the global financial Principles and Recommendations. of the past year. crisis, 2009 proved to be a tough year, particularly for our Mining Business. While Additionally, at Macmahon, corporate social The Company remains committed to uncertain times continue to prevail in the responsibility is a key priority. The Company delivering improved returns for shareholders resources sector, 2010 is already showing is committed to upholding key policies and and looks forward to delivering an improved signs of a recovery and it appears that the values relating to the health and safety of operational performance in 2010. worst is now behind us. employees, environment and the way in which we conduct our business activities. I would like to thank our employees and In light of the Company’s weak second half leadership team for their contribution during result, the Directors decided not to declare a With such values in mind, the Board was the period. Their knowledge and dedication final dividend. delighted in August 2009 to agree on a new will drive the Company’s improvement employment contract for Managing Director into 2010 and beyond, and we are highly The interim dividend of 1.5 cents per share and Chief Executive Officer, Nick Bowen. appreciative of the professionalism and represents a payout ratio of just below 50 commitment they have demonstrated per cent, which is in line with the Company’s In these volatile times, stability and strength during a demanding time. dividend guidance. Macmahon expects of leadership is an important factor to to resume dividend payments in the 2010 success. Mr Bowen remains firmly focused I would also like to thank our clients and financial year and continues to believe on the execution of the Company’s strategy suppliers for their ongoing loyalty and a payout ratio of around 50 per cent is and remains committed to the shareholders support and we look forward to continuing appropriate. of Macmahon. Mr Bowen’s leadership skills, these positive partnerships into the future. experience and strategic vision will be pivotal In June the Company raised approximately As previously announced, I will be retiring in ensuring Macmahon’s continued success $60 million of new equity. The raising was from the Board at the upcoming Annual in the coming years. successful, with both the institutional General Meeting. and retail components significantly After five years with the Company, Mr over subscribed. I would like to take this The Board has unanimously agreed that Malcolm Kinnaird AC retired from the opportunity to thank our shareholders for Mr Ken Scott-Mackenzie will be appointed Macmahon Board in May 2009. Mr Kinnaird’s their support in making the equity raising a Chairman, subject to his re-election at the expertise, dedication and knowledge during success. Annual General Meeting. this time were outstanding and I would like The equity raising was a necessary step to thank him for his contribution. I would like to thank the Macmahon towards placing the Company in a stronger management team and the Board for their Mr Ken Scott-Mackenzie was appointed position for the future, with the cash raised support over the past eight years. to the Board in May and brings with him used to pay down debt and increase working capital flexibility. over thirty five years’ experience in the engineering, mining and construction The Company is starting to see positive sectors in both Australia and overseas, signs on the horizon. Prospects for 2010 are including his most recent role as Chief improving with the economic environment Executive Office of Bilfinger Berger Australia. Richard (Dick) Carter beginning to rebound. Macmahon will We are pleased to have someone of Mr Scott- Chairman 2 Rapid Growth Project 5, BHP Billiton Iron Ore, Western Australia 3 Chief Executive Officer’s report Nick Bowen Chief Executive Officer and Managing Director The landscape in which we operate shifted dramatically in 2009, with the changes that followed significantly impacting the Company’s growth profile. Year in review As a result of these project scale backs A key win for the Construction Business and cancellations, a number of employees The past year has seen the Company was the award of the contract to construct unfortunately had to be made redundant faced with a number of challenges. Record the northern rail section of BHP Billiton Iron during the period. This was a difficult time revenue of $1.49 billion was achieved, Ore’s $500 million Rapid Growth Project for the Company and every effort was made however, profit was considerably lower 5 (RGP5) in the Pilbara region of Western to utilise available resources and redeploy than the 2008 result. Australia, in joint venture with Leighton employees where possible. Contractors. This project is pivotal in While the profit result is unsatisfactory, expanding BHP Billiton’s rail capacity in this it was in line with earnings guidance Safety performance region and also highlights the benefits from provided in April 2009 of between $15 While we have experienced a difficult year, it is the Memorandum of Understanding (MOU) million to $20 million. Positively, the last pleasing to note that the Company recorded established with Leighton Holdings. few months have seen a much stronger an outstanding safety performance for the A number of water infrastructure projects operating performance from the Company, period, with a 40 per cent improvement in the were won on the east coast of Australia signalling that we are beginning to turn Total Recordable Injury Frequency Rate and the corner. a 60 per cent improvement in the Lost Time for government bodies, including the Injury Frequency Rate. Wyaralong Dam in Queensland and the A number of one-off issues combined with Blowering Dam upgrade and Nepean Weirs the effect of the financial crisis impacted This is the best safety performance in the upgrade both in New South Wales. our 2009 results, with the Mining Business Company’s 45 year history and reflects hit particularly hard. the Company’s ongoing focus on safety New South Wales is emerging as a key improvement. region for Construction, with several rail Amidst the sharp downturn in the mining contracts awarded during the period, and resources sector, several mining adding to the growing portfolio of work in Order book contract cancellations and deferrals this state. occurred during the period, resulting Positively, we have continued to win in lost earnings and unplanned costs work with $1.1 billion of new contracts, While new contract opportunities in the of demobilisation, redundancy and extensions and scope increases awarded mining sector were limited, approximately restructuring.
Load more

Recommended publications
  • Synopis Sheets MURRAY DARLING UK
    Synopsis sheets Rivers of the World THE MURRAY- DARLING BASIN Initiatives pour l’Avenir des Grands Fleuves The Murray-Darling Basin Australia is the driest inhabited continent on the planet: deserts make up more than two thirds of the country. 90% of the population is concentrated in the southeast, around the Murray-Darling basin and on the coast. This basin is the country’s largest hydrographic network, with a surface area of 1,059,000 km² (14% of the Australian territory), stretching from the Australian Alps to the Indian Ocean. Although it harbours 70% of Australia’s irrigated land and 40% of its agricultural production, it is not spared from water shortages that now affect the rest of the country due to climate change and a lifestyle and economy that consume considerable volumes of water. A laboratory for adapting to water stress The origins The River Murray, called “Millewa” by the Aboriginal traditional owners, has been central to human livelihoods for over 40000 years. Its exploitation was then accelerated in the 19 th century, first as a navigable waterway and as a means for trading by European and other settlers. Development of the river basin quickly led to the degradation of an already fragile ecosystem. In addition to droughts, massive use of the rivers’ waters, firstly for irrigation, and the transformation of the land through grazing and deforestation contributed to the salinisation ot the land and waters. The basin has always seen great variability: severe droughts and floods, that are being accentuated with climate change. 2013, 2014, 2015, 2017 and 2018 have seen some areas in the basin with the hottest temperatures ever recorded.
    [Show full text]
  • A Natural Hub for Resource Capital
    Sector Profile /Resources A natural hub for resource capital Access capital with confidence, via ASX ASX is a world leader in resource capital raising, with over 145 years’ experience of funding the industry. Today, it provides access to a sophisticated network of investors, analysts and advisers, and an unrivalled depth of knowledge. Listing with ASX allows you to join a powerful peer group, including several of the world’s largest diversified and specialised resource companies such as Rio Tinto, Fortescue Metals Group, BHP and Woodside Petroleum, as well as many successful mid-tier producers and junior miners. Developing exploration projects requires the capital equity markets can provide, and ASX investors have supported over 350 resource listings since 2009. Resource and energy companies typically choose to list From junior explorers to world leaders with ASX because it offers: With over 900 resource companies involved in mineral exploration, x The opportunity to be part of a world-class peer group, alongside development and production in over 80 countries, this is ASX’s largest some of the world’s leading resource companies and a strong group industry sector by number of companies. of junior explorers. Listings from abroad are also popular options. MMG Ltd, a Hong Kong x Access to one of the world’s largest pools of investable funds – based diversified metals and mining company, chose to list on ASX and the largest in Asia – including retail and institutional investors. in 2015 after initially listing on the Hong Kong Stock Exchange (HKEX). x A main board listing, broadening investor reach and credibility.
    [Show full text]
  • Aon Non Executive Director Survey Participating Organisations (Pdf, 181.66Kb)
    Proprietary and Confidential Constituent Organisations . Abacus Property Group . Bendigo and Adelaide Bank Limited . Accent Group Limited . BHP Group Limited . Adelaide Brighton Ltd. Bingo Industries Ltd. Afterpay Touch Group Limited . Blackmores Limited . AGL Energy Limited . Blue Sky Alternative Investments Ltd. Alacer Gold Corp. Bluescope Steel Limited . ALS Ltd. Boral Limited . Altium Limited . Brambles Limited . Altura Mining Ltd. Bravura Solutions Limited . Alumina Ltd. Breville Group Limited . AMA Group Ltd. Brickworks Ltd. amaysim Australia Ltd. Bubs Australia Ltd. Amcor Plc . BWX Ltd. AMP Ltd. Caltex Australia Ltd. Ansell Limited . Cardno Limited . APA Group . Carnarvon Petroleum Limited . APN Industria REIT . Carsales.Com Limited . Appen Ltd. Cedar Woods Properties Limited . ARB Corp. Ltd. Centuria Capital Group . Ardent Leisure Group Ltd. Challenger Limited . Arena REIT . Champion Iron Ltd. Aristocrat Leisure Limited . Charter Hall Group . Arq Group Ltd. Charter Hall Long WALE REIT . Asaleo Care Ltd. Charter Hall Retail REIT . ASX Limited . Chorus Ltd. Atlas Arteria . CIMIC Group Ltd. AUB Group Limited . Class Ltd. (Australia) . Auckland International Airport Ltd. Clean Teq Holdings Limited . Audinate Group Ltd. Cleanaway Waste Management Ltd. Aurelia Metals Limited . Clinuvel Pharmaceuticals Limited . Aurizon Holdings Ltd. Coca-Cola Amatil Ltd. AusNet Services Ltd. Cochlear Limited . Austal Limited . Codan Limited . Australia & New Zealand Banking Group . Coles Group Ltd. Ltd. Collins Foods Limited . Australian Agricultural Co. Ltd. Commonwealth Bank of Australia . Australian Pharmaceutical Industries Ltd. Computershare Limited . Australian Scholarships Group . Cooper Energy Limited . Automotive Holdings Group Ltd. Coopers Brewery Ltd . Avanti Finance Limited . Corporate Travel Management Limited . Aventus Group . Costa Group Holdings Ltd. Aveo Group . Credit Corp. Group Ltd. Avita Medical Ltd. Cromwell Property Group . Baby Bunting Group Ltd.
    [Show full text]
  • NSW Pumped Hydro Roadmap
    NSW Pumped Hydro Roadmap December 2018 December 2018 © Crown Copyright, State of NSW through its Department of Planning and Environment 2018 Cover image: Warragamba Dam, WaterNSW Disclaimer The State of NSW does not guarantee or warrant, and accepts no legal liability whatsoever arising from or connected to, the accuracy, reliability, currency or completeness of any material contained in or referred to in this publication. While every reasonable effort has been made to ensure this document is correct at time of printing, the State of NSW, its agents and employees, disclaim any and all liability to any person in respect of anything or the consequences of anything done or omitted to be done in reliance or upon the whole or any part of this document. Information in this publication is provided as general information only and is not intended as a substitute for advice from a qualified professional. The State of NSW recommends that you exercise care and use your own skill and judgment in using information from this publication and that users carefully evaluate the accuracy, currency, completeness and relevance of such information in this publication and, where appropriate, seek professional advice. Nothing in this publication should be taken to indicate the State of NSW’s commitment to a particular course of action. Copyright notice In keeping with the NSW Government’s commitment to encourage the availability of information, you are welcome to reproduce the material that appears in the NSW Pumped Hydro Roadmap. This material is licensed under the Creative Commons Attribution 4.0 International (CC BY 4.0).
    [Show full text]
  • The Strategy for the Snowy River Increased Flows 2014-15 and Defining Cultural Water Requirements
    SNOWY RIVER RECOVERY: SNOWY FLOW RESPONSE MONITORING AND MODELLING PROGRAM The strategy for the Snowy River Increased Flows 2014-15 and defining cultural water requirements This factsheet outlines the relationship between Flow management in the Snowy the release strategy for the Snowy River The Snowy Water Inquiry Implementation Deed Increased Flows (SRIFs) for 2014-15 and the (2002) sets the framework for water recognition of the traditional people of the management in the Snowy Mountains. The Snowy Mountains. NSW Office of Water manages the Specifically this fact sheet: environmental water on behalf of the NSW, • Identifies the key aboriginal groups that Victorian and Commonwealth Governments. have a connection to the waterways of the The NSW Government is also seeking to change NSW Snowy Mountains. the Snowy Corporatisation Act 1997 to allow a • Initiates the recognition of cultural water in greater aboriginal representation in future the Snowy Mountains, by naming environmental water management in the Snowy components of the 2014-15 flow regime. Mountains. • Initiates the development of key cultural The annual allocations are dependent on water objectives. climate, but the 2002 Deed defines a target environmental water allocation to be delivered The traditional aboriginal knowledge system of to (i) Snowy River Increased Flows- 212 the Snowy River has been identified as a gigalitres per year (1 gigalitre = 1 billion litres), mechanism to (i) gain a longer-term (ii) Snowy Montane Rivers Increased Flows- 118 understanding of the river system and improve GL per year and the Murray River Increased the rehabilitation ecological end-points by Flows- 70 GL per year (Figure 1).
    [Show full text]
  • January 2017
    ` An overview of securities class action settlements, opt-in litigations and disbursements alongside illustrative indices covering both new cases and historical settlements. January 2017 www.issgovernance.com © 2016 ISS | Institutional Shareholder Services In this Issue: SPOTLIGHT ..................................................................................................................................................... 3 THIRD-PARTY CLASS ACTIONS CONTENT ......................................................................................................... 4 UPCOMING SETTLEMENTS.............................................................................................................................. 5 OPT-IN NON-NORTH AMERICAN LITIGATIONS ................................................................................................. 6 DISBURSEMENTS............................................................................................................................................ 7 MARKET DATA (OCTOBER 2015 – NOVEMBER 2016) ...................................................................................... 8 RESOURCES.................................................................................................................................................. 11 THE RECOVERMAX ADVANTAGE ................................................................................................................... 12 © 2017 ISS | Institutional Shareholder Services 2 of 12 SPOTLIGHT Australia as a Growing Hub of Litigations
    [Show full text]
  • Adelaide Brighton Ltd ACN 007 596 018
    Level 1 Telephone (08) 8223 8000 157 Grenfell Street International +618 8223 8000 Adelaide SA 5000 Facsimile (08) 8215 0030 GPO Box 2155 www.adbri.com.au Adelaide SA 5001 Adelaide Brighton Ltd ACN 007 596 018 21 April 2016 The Manager ASX Market Announcements Australian Securities Exchange Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam We attach the 2015 Adelaide Brighton Ltd Annual Report which will be dispatched to shareholders today. Yours faithfully Marcus Clayton Company Secretary Adelaide Brighton Ltd Annual Report 2015 Company profile Adelaide Brighton is a leading integrated construction materials 1 Performance summary and industrial lime producer which supplies a range of products 2 Chairman’s report into building, construction, infrastructure and mineral processing 4 Managing Director and Chief Executive Officer review markets throughout Australia. The Company’s principal activities 8 Finance report include the production, importation, distribution and marketing 10 Map of operations of clinker, cement, industrial lime, premixed concrete, construction 11 Review of operations aggregates and concrete products. Adelaide Brighton originated 12 Cement and Lime in 1882 and is now an S&P/ASX100 company with 1,400 employees 14 Concrete and Aggregates and operations in all Australian states and territories. 16 Concrete Products 18 Joint ventures Cement 19 Sustainability Adelaide Brighton is the second largest supplier of cement and 20 Sustainability report clinker products in Australia with major production facilities and 25 People, health and safety market leading positions in the resource rich states of South 28 Directors Australia and Western Australia. It is also market leader in the 30 Diversity report Northern Territory.
    [Show full text]
  • Monitoring of Ecosystem Responses to the Delivery of Environmental Water in the Murrumbidgee System
    Monitoring of ecosystem responses to the delivery of environmental water in the Murrumbidgee system Skye Wassensa, Robyn J. Wattsa, Julia Howitta, Jennifer Spencerb, Alek Zandera, and Andrew Halla a Charles Sturt University Report 1, December 2011 Institute for Land, Water and Society LMB 588, Wagga Wagga, 2678 b Rivers and Wetlands Unit NSW Office of Environment and Heritage, Department of Premier and Cabinet PO Box A290 Sydney South NSW 1232 Institute of Land, Water and Society 1 Wassens, S. Watts, R.J., Howitt, J., Spencer, J., Zander, A. and Hall, A. (2011) Monitoring of ecosystem responses to the delivery of environmental water in the Murrumbidgee system. Institute for Land, Water and Society. Report 1. This report was funded and published by the Department of Sustainability, Environment, Water, Population and Communities. The views and opinions expressed in this publication are those of the authors and do not necessarily reflect those of the Australian Government or the Minister for Sustainability, Environment, Water, Population and Communities. While reasonable efforts have been made to ensure that the contents of this publication are factually correct, the Commonwealth does not accept responsibility for the accuracy or completeness of the contents, and shall not be liable for any loss or damage that may be occasioned directly or indirectly through the use of, or reliance on, the contents of this publication. © Commonwealth of Australia 2011 This work is copyright. Apart from any use as permitted under the
    [Show full text]
  • Blowering Dam FACT SHEET
    Blowering Dam FACT SHEET FACTS AND FIGURES DID YOU KNOW? Blowering Dam is famous as • Blowering Dam was built to store water released upstream for the site where Ken Warby set electricity generation in the Snowy Mountains Hydro-Electric Scheme and release it for agriculture in the Murrumbidgee the world water speed record Irrigation Area. in 1978. His record of 511.1 km • Construction of the dam began in 1964 and was completed in 1968. per hour still stands today. The dam was named after a nearby property, ‘Blowering Station’. • The dam has a surface area of 4,460 ha, equivalent to more than 6,000 football fields. The dam wall has a height of 114 m, taller than a 35-storey building. Height: 114 m • The extra water released into the Murrumbidgee River system Length: 747 m opened up 95,000 ha of irrigated agriculture on the river’s southern Water depth: 91 m banks, known as the Coleambally Irrigation Area. Full supply level: 379 m above • In addition to irrigated agriculture, the dam provides water for sea level town supplies, industry and domestic requirements, environmental Storage capacity: 1,628,000 ML flows, flood mitigation and recreation. Surface area: 4,460 ha • To meet modern day safety standards and increase dam safety in Catchment area: 1,606 km² the event of extreme flooding, an upgrade was completed in 2010. Spillway capacity: 230,000 ML Construction involved raising the dam wall to its current height of per day 114 m and raising the training walls on the sides of the spillway.
    [Show full text]
  • Issue 183 Western Australian Index a Review of Western Australian Listed Companies on the Australian Securities Exchange
    Issue 183 Western Australian Index A review of Western Australian listed companies on the Australian Securities Exchange March, 2019 00 WA’s top 100 listed companies WA’s top 100 listed companies – at 28 February 2019 This Last ASX Company Mkt Cap Mkt Cap Last High Low EPS Month Month 28 Feb 19 31 Jan 19 Price Price Price (PoAb) (mth) (yr) (yr) 1 1 WES Wesfarmers Limited 37,620.81 36,520.99 33.18 52.77 30.40 4.89 2 2 WPL Woodside Petroleum Ltd. 33,935.49 32,128.72 36.25 39.38 28.41 1.48 3 3 S32 South32 Limited 19,609.60 17,828.61 3.91 4.28 3.00 0.28 4 4 FMG Fortescue Metals Group Limited 18,649.37 17,389.21 6.06 6.83 3.52 0.27 5 5 NST Northern Star Resources Limited 5,914.96 5,608.02 9.25 9.97 6.08 0.32 6 6 ILU Iluka Resources Ltd. 3,867.17 3,674.63 9.17 12.20 7.02 0.72 7 10 IGO Independence Group NL 2,881.53 2,586.29 4.88 5.74 3.56 0.09 8 7 MIN Mineral Resources Ltd 2,818.16 2,968.84 15.05 20.70 12.39 0.65 9 9 RRL Regis Resources Limited 2,711.78 2,640.06 5.34 5.82 3.65 0.33 10 11 BWP BWP Trust 2,376.82 2,338.28 3.70 3.83 2.91 0.25 11 8 SAR Saracen Mineral Holdings Limited 2,124.50 2,764.32 2.59 3.47 1.62 0.09 12 12 NVT Navitas Limited 2,020.54 2,016.95 5.64 5.68 3.87 (0.17) 13 13 MND Monadelphous Group Limited 1,676.81 1,390.70 17.81 18.18 12.51 0.69 14 14 PLS Pilbara Minerals Limited 1,299.66 1,133.93 0.75 1.13 0.57 (0.01) 15 17 ASL Ausdrill Ltd.
    [Show full text]
  • Gresham Mining & Infrastructure Services Quarterly
    Gresham Mining & Infrastructure Services Quarterly We are pleased to present Edition 24 of the Gresham Mining and Infrastructure Services Quarterly (GMISQ), a snapshot of the performance, news and trends across the resources and infrastructure services sectors. The Gresham Mining and Infrastructure Services Index (GMISI) fell 6% during the September quarter, compared to a 2% increase in the broader equity market. This was driven by share prices decreases from several of the largest companies in the index, including a 30% decline in CIMIC’s price. Excluding the 5 largest constituents, the GMISI would have increased by 3%, with 33 of the 50 companies seeing share price appreciation. In this edition we review the FY19 reporting season across the sector, which was characterised by generally strong performance. Around two thirds of participants recorded double digit revenue and earnings growth, with companies exposed to mining production well represented in the top half of the group. The outlook also remains positive, evidenced by most companies providing outlook statements guiding towards continued growth in FY20, and favourable demand noted across both resources and infrastructure. This is consistent with significant contract award activity observed during in the quarter, and median consensus forecast revenue growth of 10% pa over the next two years. Despite the positive FY19 reporting season, the market reaction was mixed across the sector, reflecting high expectations heading into results. Valuation multiples have generally strengthened slightly, driven by increasing share prices across the majority of smaller constituents. The median FY20 PE and EV/EBIT ratios sit at 12.4x and 8.2x respectively, both above long term averages.
    [Show full text]
  • Remuneration Report (Australasia) Participating Organisations | October 2019 Proprietary and Confidential
    Remuneration Report (Australasia) Participating organisations | October 2019 Proprietary and Confidential Participating organisations 1. Aeris Resources Limited 37. Karara Mining Ltd 2. Alcoa of Australia Limited 38. Kirkland Lake Gold 3. Alkane Resources Limited 39. Macmahon Holdings Limited 4. AngloGold Ashanti Australasia 40. Metals X Limited Limited 41. Mid West Ports Authority 5. Aurelia Metals Ltd 42. Millennium Minerals Limited 6. Beatons Creek Gold Pty Ltd 43. Mineral Resources Limited 7. BGC Contracting Pty Ltd 44. Minjar Gold Pty Ltd 8. BHP Group Limited 45. Minotaur Exploration Limited 9. Billabong Gold Pty Ltd 46. Mitsui & Co. (Australia) Ltd 10. Bis Industries 47. MMG Limited 11. Breaker Resources NL* 48. Mount Isa Mines Ltd 12. Byrnecut Australia Pty Ltd 49. Nautilus Minerals Inc 13. Calibre Group Ltd 50. Newcrest 14. Capricorn Copper Pty Ltd 51. Newmont Australia 15. Carey Mining 52. Northern Star Resources Limited 16. Castlemaine Goldfields Limited 53. Northparkes Mines 17. CBH Resources Limited 54. Norton Gold Fields Limited 18. CBH Resources Operations 55. NRW Pty Ltd 19. Centrex Metals Limited 56. NT Mining Operations Pty Ltd 20. CITIC Pacific Mining Management (Kirkland Gold) Pty Ltd 57. OceanaGold Corporation 21. Cobar Management Pty Ltd 58. Oz Minerals Limited 22. Copper Mines of Tasmania 59. Pacifico Minerals 23. Covalent Lithium Pty Ltd 60. PanAust Limited 24. Downer EDI Mining Pty Ltd 61. Panoramic Resources 25. Evolution Mining Limited 62. Perenti Group 26. Fortescue Metals Group Ltd 63. Perilya Limited 27. Glencore Australia Holdings 64. Pilbara Minerals Limited 28. Global Advanced Metals Pty Ltd 65. PT Agincourt Resources 29. Gold Fields Australia Pty Ltd 66.
    [Show full text]