A DELOITTE Queensland Index has shown the top five performances by market capitalisation of the state’s ASX listed companies over the past year.
The top five were Lihir Gold Limited, Suncorp-Metway Limited, Macarthur Coal Limited, Campbell Brothers Limited and Flight Centre Limited.
During the 2010 financial year, the Deloitte Queensland Index (the Index) increased by $9.9 billion, or 21 per cent.
Out of the 190 companies currently listed on the Index; 126 companies posted an increase, 62 companies lost ground and the rest remained steady. The Index has outperformed the ASX All Ordinaries, which increased just 9.5 per cent in FY10
Deloitte Corporate Finance partner Robin Polson, says despite the multitude of negative global economic events over the past 12 months, Queensland listed companies have shown resilience in producing substantial outperformance.
“Our Index has demonstrated that companies who remain focused, and show resilience, can go on and produce substantial outperformance. Global financial markets faced significant uncertainty in recent times, particularly the resources sector, but the Queensland Index has performed well in the face of this,” he says.
In addition to a review of performance, the Index discusses key challenges facing Queensland companies through a number of feature articles. These articles include a discussion of resource taxation issues, investor uncertainty around energy generation, forensic contract investigation, talent management and innovation.
Following the downturn, talent management has become a key concern for companies.
Queensland office managing partner Tim Biggs, noted that as the Australian economy continues to recover, attracting and retaining the best people will become a major concern for companies.
“Retention of good people needs to be a major focus as companies around Australia prepare their talent strategies for the expected economic growth. Companies financial future will be strongly influenced by the actions which business leaders take in order to retain their best people over the next 12 months,” says Briggs.
Deloitte in Queensland has recently added an additional four new partners to their growing business; Julian Dolby (Consulting), Stephen Tarling (Assurance & Advisory), Shelley Nolan (Tax) and Jerry Sadlowski (Consulting); and staff numbers have increased from a base of 170 five years ago, to a total of 400 today.
The company will launch the 2010 Gala Edition of the Deloitte Qld Stock Exchange Index at the Queensland Art Gallery tonight.
More than 160 guests are expected to attend with economist Henry Ergas speaking about our medium term economic prospects, issues around mining taxation, as well as health and aged care.
Don't miss the September edition of Brisbane Business News when we reveal the city's top 50 private companies.
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