Australian Agricultural Company Ltd (AAC) 2003年年度报告「ASX」.pdf

1、AACo:GROWING BEEFPRODUCING FOODBUILDING BRANDSANNUAL REPORT 2003Australian Agricultural Company Limited ABN 15 010 892 270 CONTENTS 3 CHAIRMANS REVIEW 4 FINANCIAL HIGHLIGHTS 6 CEOS REPORT 18 REVIEW OF OPERATIONS 23 DIRECTORS STATUTORY REPORT 29 CORPORATEGOVERNANCE 32 FINANCIAL REPORT FOR THE YEAR EN

2、DED 30 JUNE 2003 61 INDEPENDENT AUDIT REPORT 62 ASX ADDITIONAL INFORMATIONANNUAL GENERAL MEETING will be held at 11:00am on Thursday,30 October 2003 at the Wesley Theatre,Wesley Conference Centre,220 Pitt Street,Sydney,New South Wales.AACo ANNUAL REPORT 2003 1YEAR INSUMMARYIRECORD HERD OF 418,000 AT

3、 30 JUNE 2003IFEEDLOT CAPACITY INCREASED 85%WITH ACQUISITION OF ARONUI FEEDLOT IN QUEENSLANDIACQUIRED TWO PROPERTIES,GREGORY FARMAND TALMOI,BOTH ADJOINING EXISTING AACO PROPERTIESI1824,AACOS FLAGSHIP BEEF BRAND,CONTINUES TO EXPAND ICOMMENCED DIRECT SALES INTO ASIA OFHIGH VALUE WAGYU BEEFIACQUIRED JE

4、STERS JAFFLE PIE COMPANY,AUSTRALIAS LEADING MEAT PIE RETAILFRANCHISE2 AACo ANNUAL REPORT 2003OUR PROVEN CATTLE PRODUCTION SYSTEM,THE BROAD GEOGRAPHIC SPREAD OF OUR PROPERTIES AND THE DIVERSITYOF MARKETS FOR THE BEEF WE PRODUCE,HAVE ENABLEDTHE COMPANY TO WEATHER THE DIFFICULT CLIMACTIC ANDMARKET COND

5、ITIONS EXPERIENCED DURING THE PAST YEAR.AACo ANNUAL REPORT 2003 3Difficult times require a sharp focus on getting thefundamentals right.They also lay the base for futureperformance.In the year to 30 June 2003,AACos focus wason its core business producing high-quality cattle.Whilecontinuing severe dr

6、ought conditions afflicted much of easternAustralia,AACos production system proved yet again that AACohas its fundamentals right,which served to underscore thestrength of AACos business and strategy.Results to 30 June 2003Net profit after tax for the year ended 30 June 2003 was$18.3 million,achieved