This appendix provides a comparative overview of our key financial performance results for the last five financial years.
Table 6.12: Financial performance, 2012–13 to 2016–17
2012–13 | 2013–14 | 2014–15 | 2015–16 | 2016–17 | |
Financial performance | |||||
Net profit after tax ($m) | 85.1 | 90.1 | 91.1 | 104.6 | 65.7 |
Annual dividend ($m) | 51.1 | 54.0 | 54.6 | 62.7 | 39.6 |
Return on equity (%) | 6.2 | 6.4 | 6.3 | 7.0 | 4.3 |
Property investment program revenue ($m) 1 | 353.4 | 386.4 | 498.0 | 428.8 | 363.9 |
Disposals program revenue ($m) | 51.2 | 54.6 | 44.4 | 59.0 | 64.2 |
Development land and property sales revenue ($m) | 58.9 | 114.0 | 127.1 | 238.5 | 116.4 |
Business efficiency | |||||
Return on capital employed (%) | 7.5 | 8.0 | 8.4 | 9.2 | 5.9 |
Inventory turnover (years) 2 | 2.0 | 1.7 | 1.5 | 1.8 | 2.1 |
Leverage/solvency | |||||
Gearing ratio (%) 3 | 35.8 | 35.7 | 34.8 | 25.8 | 24.9 |
Interest times cover | 4.2 | 5.1 | 5.8 | 7.0 | 5.2 |
Current ratio | 2.7 | 2.4 | 3.1 | 4.7 | 6.2 |
Liquidity ratio 4 | 2.2 | 1.9 | 4.0 | 4.7 | 6.2 |
Portfolio management | |||||
Value of portfolio under management ($b) | 9.0 | 9.5 | 10.0 | 10.6 | 11.0 |
Total properties under management | 18,304 | 18,577 | 18,872 | 18,767 | 18,841 |
New constructions and acquisitions | 649 | 790 | 1,154 | 864 | 940 |
NOTES
- Formerly known as the Sale and Leaseback program.
- This figure relates to property investment program properties only.
- Financial years 2012–13 to 2014–15 used the gearing ratio of total liabilities over total assets. In 2015–16, the methodology was revised to total liabilities over equity plus total liabilities.
- Liquidity ratio excludes current borrowings as borrowed items are rolled on maturity and not considered to be at risk.