Australian Agricultural Company Ltd (AAC) 2004年年度报告「ASX」.pdf

1、LANDCATTLEBRANDSANNUAL REPORT 2004Australian Agricultural Company LimitedContentsLand 2Cattle 4Brands 6Financial Highlights 8Chairmans Review 9CEOs Report 10Review of Operations 12Directors Statutory Report 15Corporate Governance 20 Financial Report 23Independent Audit Report 56ASX Additional Inform

2、ation 58YEAR IN SUMMARYFull year net profit after tax of$22.2 million,22%above FY03Record closing cattle inventory of 468,000,an increase of 50,000 on the previous yearPurchased the Wylarah aggregation of sixproperties near Surat in QueenslandDrought affected first half,followed bystrong second half

3、 performance Higher cattle values and$40 millionproperty valuation uplift continue to underpin balance sheet and acquisition capacity1824 winner,Best Branded Product,2004 Red Meat Innovation AwardsBrunette DownsKarumbLawn HillGregory DownsClonaghCarrumAustral DownsAvon DownsHeadinglySouth WRockhampt

4、on DownsDarwinPRODUCTIONSYSTEM:FLEXIBILITYFOR VARYINGCONDITIONSAACo operates an integratedproduction chain targeting a variety of markets.The production system allows forbreeds to be directed to marketsthrough pathways designed to meetmarket suitability while maximisingproduction.The geographic spre

5、ad ofgrowing and backgrounding stationsallows flexibility in pathways to reachmarkets and also allows AACo toradidly change its target markets asconditions change.Flexibility in feedingregimes at AACos feedlots allows atimely response to market conditions.TownsvilleRockhamptonbaWrotham ParkWondoolaC

6、anobieKalmetaDalgonallyBrighton DownsGalwayWylarahAronui FeedlotGoonoo FeedlotGlentanaEstablished in 1824,AACo isAustralias largest beef producer,providing quality beef forinternational and domestic markets.The company produces safe,qualityassured beef in an efficient andenvironmentally sustainablem