GHD’s financial performance for the year was robust, despite
the difficult business conditions. Overall, the financial position
of the GHD Group is very strong with the highest revenue recorded
in the company’s history. Global revenues increased by 18 percent
to AUD1.1 billion.
Revenue growth was underpinned by a strong balance sheet. Net
assets increased to AUD151.6 million, 37 percent higher than the
previous year and almost twice as much as two years ago. Our
prudent cash management was reflected in positive operating cash
flows. Cash reserves and liquidity enabled further investment in
our operating infrastructure and provided an opportunity to pursue
strategic growth initiatives, particularly in the USA.
The financial strength of GHD was supplemented by continued
financial support from our bankers - Westpac and HSBC. During the
year, the banks’ funding facilities were renewed with increased
limits. The GHD Group remained conservatively geared with a net
debt to equity ratio of 21:79.
GHD’s strong balance sheet and low gearing provides a
financially stable platform to maximise operating performance in
the year ahead.
Current Assets
Non-Current Assets
Total Assets
Current Liabilities
Non Current Liabilities
Total Liabilities
Net Assets
Equity
2009
272.2
154.5
426.7
155.4
119.7
275.1
151.6
151.6
2008
255.4
100.8
356.2
149.8
95.6
245.4
110.8
110.8
2007
182.5
80.8
263.3
109.7
75.9
185.6
77.7
77.7
Source – Consolidated Financial Report as at 30
June 2009 for the GHD Group Pty Ltd.