Chalmers burnishes shareholder credentials


Chairman says returns are in the top quartile compared with listed performers in the industry

By Rob McKay | October 26, 2011

Chalmers Chairman Colin Stubbs has placed his company’s performance in shareholder care at the upper echelon of listed firms in the industry.

Speaking at the company's 52nd annual general meeting, Stubbs reserved special praise for its transport division, with revenue and profits before tax at $40 million and $3.4 million, up 24 percent and 55 percent respectively.

"Comparison with larger listed competitors shows Chalmers after tax return on shareholders’ funds of 11.2 percent being in the top quartile of results – albeit the dollar value being somewhat dwarfed in absolute terms," Stubbs says.

He was particularly pleased with the performance of the Container division, which returned a full year profit for the first time in four years.

It had shifted from a $150,000 loss to a profit of $810,000.

Despite the good news, the market remained challenging, "with profitability at a rate slightly below that budgeted and that experienced in the September 2010 quarter", Stubbs says.

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