Australian Agricultural Company Ltd (AAC) 2005年年度报告「ASX」.pdf

1、ANNUAL REPORT 2005Australian Agricultural Company Limited BUILDING SHAREHOLDER VALUE THROUGH OUR KEY ASSETS“AAco has been recognised as an efficient beef producer and one of Australia s most environmentally responsible cattle operations.”CONTENTSChairman s Report 2CEO s Report 4Directors Report 13Co

2、rporate Governance 34Financial Report 38Independent Audit Report 86ASX Additional Information 88AAco Property Report 89Australian Agricultural Company Limited(AAco)is the worlds leading beef producer with more than 500,000 cattle on 26 properties covering 7.9 million hectares in Queensland and the N

3、orthern Territory.Established in 1824 by royal decree,AAco is also the oldest agricultural company in Australia.The company re-listed on the Australian Stock Exchange in 2001.A competitive advantage of AAco is the traceability of its high quality,safe and consistent beef,which can be traced from“pad

4、dock to plate”.This provides confidence about product quality for customers around the world.Australian Agricultural Company Limited Annual Report 2005 1 Growth in gross(17%)and net assets(39%)Costs contained on expanded operating base Completion of first stage of station development programme Integ

5、ration of acquisitions including Victoria River Group Beef export joint venture with Greg Norman Increased cash flow by 100%.FINAL DIVIDEND PER SHARE(%FRANKED)200420056.00c(70%)7.00c(20%)AVERAGE GROSS SELLING PRICE/HEAD(12 MONTHS ENDED 31 DECEMBER)20042005$947.36$908.67 2005 IN SUMMARYREVENUE(12 MON

6、THS ENDED 31 DECEMBER)20042005$185.2m$183.9mThe highlights of the 12 months ended 31 December 2005 were:Net profit after tax$16.8 million in line with market expectations Challenging seasonal and market conditions Revenue$183.9 million similar to previous year Dividend of 7.0 cents per share,up 17%o