BML operates on a commercial basis as an unlisted public company, with 42,500,000 listed shares and over 150 predominantly industry-related shareholders, including growers, wholesalers, secondary wholesalers, retailers and the industry organisation Brismark.
Subject to the future financial performance BML and its operations as well as its ongoing future cash flow requirements (including funding required for existing and future projects), the Directors intend to achieve a dividend payout ratio in the range of 60-75% of Net Profits After Tax (excluding any property valuation and any “Mark to Market” adjustments) with all dividends to be fully franked.
The balance of retained earnings is expected to be used by BML to assist in the ongoing funding of development projects.
Brisbane Markets Annual Report - 2015/16
The strength and resilience of industry ownership of the Brisbane Markets® has again been underlined, with BML delivering another record net operating pro t after tax of $9.35 million, an increase of 11.2% over the operating pro t of $8.41 million for the 2015 year.READ ONLINE DOWNLOAD View previous issues
Anthony (Tony) Joseph Chairman
Tony is a director of a number of private companies with interests in fruit and vegetable wholesaling and exporting with 44 years experience in the Brisbane Markets.
Since 1975, Tony has been Managing Director of Alfred E Chave Pty Ltd, an established business with a long and successful history of trading in the Brisbane Markets. Tony has been on the Board of The Queensland Chamber of Fruit and Vegetable Industries (Brismark) Executive since 1982, five of those as President, and was a longstanding member of the Brisbane Market Trust prior to corporatisation by the State Government. Currently Tony is a director of the Queensland Committee of Men in League.
Andrew has a history of employment at a senior management level with extensive experience in policy formulation, service development and industry representation.
His experience in the fresh produce industry includes engaging with the relevant agencies within the State and Federal Government and addressing national issues through both The Australian Chamber of Fruit and Vegetable Industries and the Central Markets Association of Australia. He has had extensive involvement in relation to the reviews of legislation impacting upon the operation of Market wholesalers, the Central Markets, and an active involvement in addressing issues impacting on the marketing sector of the horticultural industry. His industry knowledge includes extensive research on Central Markets in Australia, Asia, Europe and the USA. Andrew played a leading role as part of the project team responsible for what became the successful bid to purchase the Brisbane Markets site in 2002 and as CEO, coordinated the seamless transition of ownership of the Brisbane Markets site to BML. Andrew is currently Chief Executive Officer of Brismark, and Chief Executive Officer of BML.
Anthony (Tony) Kelly
Tony is a qualified lawyer having graduated from the University of Queensland in 1984.
His work in the legal profession included time as a judge’s associate and commercial law experience with a leading Brisbane law firm. In 1987 he commenced with the Carter and Spencer Group where he remained until 2004, having been appointed a director from 1992. Tony has been involved in the fresh produce industry for over 20 years. He is also a former director and president of Brismark and director and vice president of the Australian Chamber of Fruit and Vegetable Industries Limited. Tony retired from his role as chairman of the Brisbane Lions after 12 years service on that Board. He is a former director of Gladstone Ports Corporation.
Peter is a director of a number of private companies with interests in fruit and vegetable wholesaling and marketing.
His family has a long history in the Brisbane Markets and Peter is a second-generation member with over 30 years’ experience in fruit and vegetable wholesaling. For the past 25 years, he has been Managing Director of J H Leavy & Co. and he is also a director of the Brisbane Racing Club. Peter was a director of the Australian Chamber of Fruit and Vegetable Industries Limited and since 1988, and has also been a director of Brismark.
Noel has a comprehensive knowledge of the fruit and vegetable industry, having been Managing Director of RW Pascoe, a leading Brisbane Markets fruit and vegetable wholesaling business since 1989.
During this time he has been involved with all aspects of running this successful business. Born and raised in Ireland, Noel played professional soccer for his country at youth level before coming to Australia on a visa to play soccer in 1987 and staying on. Noel has also been a director of Brismark since 2000.
Stuart Lummis has over 30 years’ experience as a Senior Executive with 15 years as a non-executive director on several boards.
Stuart has extensive experience in both large publicly listed groups in addition to not for profit organisations. Stuart is currently the Director for Building, Planning, Facilities and Property with a not for profit organisation. Stuart holds a Bachelor of Economics, a Diploma in Project and Construction Management in addition to Post Graduate Diplomas in both Accounting and from the Securities Institute.
Bruce is an independent Director who brings considerable corporate expertise to the Board.
Mr Hatcher, a former managing partner of an international accountancy practice has international experience in a number of prominent industries. Mr Hatcher holds a Bachelor of Commerce and is a Fellow of both the Institute of Chartered Accountants and the Australian Institute of Company Directors.
Ms Collier is an agile and highly experienced leader combining current board and governance experience with a successful career in strategic marketing and commercial leadership roles across a diverse range of industries in both blue-chip and multi-national organisations.
Ms Collier will add a significant depth of knowledge to the Board in relation to her branding, communications and strategic marketing experience. The Board saw the addition of a director with expertise in these areas as desirable given the strategic priorities of the company. Ms Collier holds a Bachelors and Masters degree in Business and has lectured at the Queensland University of Technology’s Graduate School of Business. She is a graduate member of the Australian Institute of Company Directors (GAICD).