Axiom 2009 Annual Report
Axiom 2008 Annual Report 2008
Click here for 2008 Notice of Meeting.
Axiom Properties Limited Annual Report 2007.
The 2006/2007 financial year has been another excellent year for Axiom Properties Limited. Progress has been made on all fronts – additional developments have been acquired, new staff appointed, interstate offices opened and significant progress made on construction at both the Port Geographe canal development at Busselton WA and the Century City office development at 100 St Georges Terrace, Perth.
The company has also been significantly rerated by the market and at the time of writing this report has a market capitalization of approximately $150 million – up from around $100 million one year ago. Revenue was up 550% on the previous year as partial profits from the company’s equity interest in the Century City project were brought forward.
The net profit after tax was $2.2 million which represents Axiom’s maiden full year result since the Pivot Group became the major shareholder.
Click here for 2007 Notice of Meeting.
Axiom Properties Limited Annual Report 2006.
The 2005/2006 financial year has been a company-making year for Axiom. This is perhaps best demonstrated by the fact that at the beginning of this year the Company had a market capitalization of approx. $3 million whilst at the time of writing this report the market capitalization had reached more than $100 million.
This huge change in the Company’s fortunes comes on the back of a recapitalization by the private property development company Pivot Group Pty Ltd (PIVOT). Pivot commenced business in Perth in 1972 and since that time has been a successful developer of shopping centres, bulky goods centres, office buildings, medical centres, theme parks, hotels, resorts and marinas across Australia.
Pivot first made an offer to inject capital into the Company on 3rd October 2005 and after a protracted battle with another offeror, Axiom shareholders overwhelmingly approved the Pivot offer at the General Meeting held on the 11th April, 2006.
The basis of the Pivot offer was to inject $5 million in return for 125 million shares and to be granted 140 million options exercisable at 20 cents each.
Axiom Properties Limited Annual Report 2005.
It is pleasing to record that the Company reported a profit of $1.08m for the year ended 30 June 2005. This result
compares with last year’s loss of $1.86m.
The profit arose mainly as a result of the sale of land at Port Geographe. As previously announced the Company has entered into a Joint Venture Agreement with companies associated with Macquarie Bank Limited and Saracen Properties Pty Ltd to develop all of the remaining undeveloped land at Port Geographe. The Company has a 40% interest in this joint venture. Further details on the Port Geographe Joint Venture are included elsewhere in this Report.
