Sunland : Financial Report 30 June 2017 Opens in a new Window

Sunland Group Limited

ABN 65 063 429 532

Annual report for the year ended 30 June 2017 Sunland Group Limited

ABN 65 063 429 532

Annual report - 30 June 2017 Contents

Page

Corporate directory 1

Consolidated financial summary 2

Corporate Governance Statement 3

Directors' Report 12

Remuneration Report (Audited) 18

Auditor's Independence Declaration 24

Financial statements

Consolidated statement of comprehensive income 25

Consolidated statement of financial position 26

Consolidated statement of cash flows 27

Consolidated statement of changes in equity 28

Segment Information 29

Notes to the consolidated financial statements 32

Directors' declaration 54

Independent auditor's report to the members 55

Shareholder information 60

Directors

Mr Soheil Abedian

Executive Director (Chairman)

Mr Sahba Abedian Managing Director

Mr Ron Eames, Non-Executive Director

Mr Craig Carracher, Non-Executive Director

Mr Christopher Freeman, Non-Executive Director

Secretary

Mr Grant Harrison

Principal registered office in Australia

Registered office/ principal place of business

Suite 2602, "One One One Eagle Street" Level 26, 111 Eagle Street

Brisbane Qld 4000 Australia

Telephone [phone]

Gold Coast Royal Pines Marina Precinct

Benowa Qld 4217

Telephone [phone]

Melbourne

Suite 0101, Level 1

4 Riverside Quay

Southbank VIC 3006

Telephone [phone]

Sydney

Suite 9.03, Level 9

25 Bligh Street

Sydney NSW 2000

Telephone [phone]

Share register

Link Market Services Limited Locked Bag A14

Sydney South NSW 1235

1300 655 149 (Australia) ([phone] Overseas

Auditor

Ernst & Young Level 51

111 Eagle Street

Brisbane Qld 4000 Website www.sunlandgroup.com.au

Solicitors

Holding Redlich Level 1

300 Queen Street

Brisbane Qld 4000

Bankers

ANZ Banking Group Ltd Level 20

111 Eagle Street

Brisbane Qld 4000

Westpac Banking Corporation 260 Queen Street

Brisbane Qld 4000

Consolidated financial summary

Financial Position ($ millions)	2017	2016	2015	2014	2013	2012
Shareholders' Equity	363.8	356.4	357.8	349.5	352.9	345.0
Total Assets	651.2	612.4	505.3	470.6	440.7	508.0
Cash	14.6	19.9	26.2	14.7	29.3	31.1

Financial Performance ($ millions)
Total Revenues	405.5	255.2	289.0	187.9	189.3	211.0
Statutory profit after tax	35.3	31.5	30.1	14.2	13.6	14.5

Market Performance
Market capitalisation at balance date ($
millions)	277.5	232.6	325.1	277.9	262.1	179.6
Share price at balance date ($)	1.78	1.42	1.79	1.56	1.41	0.93

Key Measures Basic earnings per share (cents)	22.4	18.8	16.9	8.0	7.2	7.2
Net tangible assets per share ($)	2.39	2.22	2.01	1.96	1.87	1.79
Gearing - (debt/equity)	60%	56%	32%	24%	3%	11%
- (debt/assets)	34%	33%	22%	18%	4%	8%
Interest cover (times) (i)	4.7	11.3	7.8	6.8	4.8	7.6
Return on equity Fully franked ordinary dividend per share (cents) (ii)	10% 10.0	9% 8.0	8% 10.0	4% 4.0	4% 2.0	4% -

1. Interest cover is calculated by dividing Earnings before interest, tax and depreciation by finance costs.

2. Fully franked ordinary dividend per share reflects dividends declared during the year, inclusive of any special dividends where relevant.