MIRA
INFORM REPORT
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Report Date : |
12.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
CAMPBELL BROTHERS LTD |
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Registered Office : |
2/299 Coronation Drive, Milton,
Queensland 4064 |
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Country : |
Australia |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
08.12.1910 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer and Supplier of
Innovative Cleaning, Sanitising, Water Treatment and Engineering Systems. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
REGISTERED NAME
CAMPBELL BROTHERS LTD
T/AS CAMPBELL CLEANTEC
ACN: 009 657 489
ABN: 92 009 657 489
Incorporation Date
8 Dec
1910
Incorporation State
Queensland
Registered Office
2/299 CORONATION Drive
MILTON,
Queensland 4064 Australia
Paid Capital
$223,643,548
Shareholders
Not shown
Directors
BROWN,
BRUCE ROBERT
Appointment
Date: 01 Oct 2005
Date
of Birth: 18 Aug 1944
Gender:
Male
Address:
24 YOKU Road ASHGROVE, Queensland 4060 Australia
KILMISTER,
GREGORY FRANCIS
Appointment
Date: 01 Sep 2005
Date
of Birth: 29 Feb 1956
Gender:
Male
Address:
65 THOMAS MACLEOD Avenue SINNAMON PARK, Queensland 4073 Australia
HILL,
RAYMOND GORDON
Appointment
Date: 28 Oct 2003
Date
of Birth: 19 Jan 1942
Gender:
Male
Address:
43 WELLINGTON Street MANLY, Queensland 4179 Australia
MCGRATH,
GEOFFREY JAMES
Appointment
Date: 01 Jun 2003
Date
of Birth: 28 May 1942
Gender:
Male
Address:
94 ROSEBERY Terrace CHELMER, Queensland 4068 Australia
KRIEWALDT,
MARTIN DOUGLAS
Appointment
Date: 12 Jun 2001
Date
of Birth: 23 Oct 1949
Gender:
Male
Address:
86 PRINCESS Street CAMP HILL, Queensland 4152 Australia
WITHNALL,
NEROLIE PHYLLIS
Appointment
Date: 13 Dec 1994
Date
of Birth: 18 Mar 1944
Gender:
Female
Address:
2022 MT GLORIOUS Road MOUNT GLORIOUS, Queensland 4520 Australia
LOVE,
ANTONY JAMES
Appointment
Date: 13 Feb 1986
Date
of Birth: 25 Oct 1946
Gender:
Male
Address:
48 MILES Street CLAYFIELD, Queensland 4011 Australia
Resident
Overseas: No
Veda
Advantage File Number: 58681549
Secretary
TIMOTHY EDWARD MULLEN
Appointment
Date: 27 Feb 2007
BUSINESS STRUCTURE
TRADING ADDRESS
2/299 CORONATION Drive
MILTON,
Queensland 4064 Australia
TELEPHONE (617) 3710 3200
FACSIMILE (617) 3710 3210
TRADING NAMES
CAMPBELL
CLEANTEC
CLEANTEC
LAUNDRY SYSTEMS
CAMPBELL
CONSUMER PRODUCTS
BETTACHEM
CAMPBELL
CONSUMER PRODUCTS
WOLSELEY CASTLE
DELTREX CHEMICALS
ASSOCIATED ENTITIES
ALS Technichem
(Malaysia) Snd Bhd
Australian
Hospitality Imports Pty Ltd
CONTROLLED ENTITIES
Australian
Laboratory Services Pty Ltd
ALS Analytical
Testing (Shanghai) Co. Ltd
ALS Bolivia Ltd
ALS Brasil Ltd
ALS Canada Ltd
ALSMX, S.A. de
C.V.
ALS-Indequim, S.A.
de C.V.
ALS (Barbados) Ltd
4 Barbados
ETL Chemspec
Analytical Ltd Canada
ETL Labs, Inc USA
Enviro-Test
Laboratories, LLC USA
Manitoba
Technology Centre Ltd Canada
ALS Chemex de
Mexico S.A. de C.V. 4 Mexico
ALS Chemex South
Africa (Proprietary) Ltd South Africa
ALS Colombia Ltda
Colombia
ALS Czech Republic
s.r.o 4,6 Czech Republic
Ecochem a.s. 4,6
Czech Republic
ALS Geolab SRL 3,4
Argentina
ALS Ghana Limited
Ghana
ALS Patagonia S.A.
3,4 Chile
ALS Peru S.A. 4
Peru
ALS Sweden AB
Sweden
ALS Analytica AB 1
Sweden
ALS Chita Holdings
AB 2 Sweden
ALS Taiwan Co. Ltd
4 Taiwan 51%
ALS Technichem
(HK) Pty Ltd Hong Kong
ALS Technichem
(Singapore) Pte Ltd Singapore
ALS Testing
Services (Thailand) Co. Ltd Thailand
ASL International
Ltd 4 Barbados
Consulchem Pty Ltd
Group de
Laboratoire ALS MALI SARL
Abilab Burkina
SARL
Abilab
Exploitation SARL
S.C. Rom Analize
S.R.L.
Bushland Products
Pty Ltd
Campbell Brothers
Services Pty Ltd
CBS Dry Cleaning
Pty Ltd
CBS Pest Holdings
Pty Ltd
CBS Pest Control
Pty Ltd
CB Services
Holdings Pty Ltd
CB Services
Management Pty Ltd
CBS Washroom
Services Pty Ltd (formerly CBS
Hygiene Services
Pty Ltd)
CBS Telemarketing
Pty Ltd
Home Services
Nominees Pty Ltd
Pofade Pty Ltd
Grace Carpet
Cleaning Pty Ltd
Sinvil Pty Ltd
Copes Pest Control
Pty Ltd
CBS Home Services
Pty Ltd (formerly Myer Home
Services Pty Ltd
atf RGM Unit Trust No 2)
Campbell Brothers
Trading Pty Ltd
Carpi Ltd PNG
Panamex Pacific
(PNG) Ltd
CBL Campbell
Brothers NZ Ltd
CBL Campbell
Brothers USA, Inc
ALS USA, Inc
Panamex Pacific,
Inc USA
Panamex Pacific, Inc
American Samoa
Panamex Pacific
Ltd NZ
Proclean Ltd NZ
Reward Supply Co.
Pty Ltd
Albert Crocker
& Son Pty Ltd
Pandee Services
Pty Ltd
Parker Sales &
Service Pty Ltd
Reward Supply Co.
(N.Q.) Pty Ltd
Currey Pty Ltd
Currey (N.Q.) Pty
Ltd
Whitsunday
Catering Supplies Pty Ltd
Reward Supply Co.
(N.T.) Pty Ltd
Strategic Retail Performance Pty Ltd
BANK
Not determined
EMPLOYEES
4,863
BACKGROUND
The subject was incorporated in Queensland on 8 December 1910 under the
current style.
The subject was listed on the Australian Stock Exchange in 1952.
OPERATIONS
The subject operates in the manufacture and supply of innovative
cleaning, sanitising, water treatment and engineering systems.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the of Credit Advantage Limited failed to trace any
litigation listed against the subject at that date.
FINANCES
The subject is a public corporation that is listed on the Australian
Stock Exchange.
From the subjects most recently lodged financial statements, it is noted
that for the financial year ended 31 March 2007 the subject recorded revenue of
$635,867,000, which resulted in an operating profit before tax of $76,342,000
and an operating profit after tax of $51,013,000 representing a Net Profit
Margin of 8.02%.
Below is a summary of the subject’s income results for the past two
financial years.
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Campbell Brothers Limited - consolidated |
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As at 31 March 2007 |
As at 31 March 2006 |
Change (%) |
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Revenue |
$635,867,000 |
$485,484,000 |
30.98% |
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Profit b/tax |
$76,342,000 |
$48,964,000 |
55.91% |
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Profit a/tax |
$51,013,000 |
$32,715,000 |
55.93% |
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Net Profit Margin |
8.02% |
6.74% |
1.28% |
The subjects record results for the last financial year were
attributable to acquisitions made during 2006 coupled with strong underlying
performance growth.
The major factor behind the 2007 growth was the performance of ALS Laboratory
group which contributed 80% of the divisional profit and over 50 % of the
revenue.
In March 2007, following the acquisition of a substantial holding in CCI
Holdings Ltd in 2006, the group entered into an option agreement to support a
scheme of arrangement whereby Bureau Veritas SA would acquire CCI Holdings Ltd.
During fiscal 2007, the subject recorded Net Cashflows from operating
activities totalling $58,096,000.
As at 31 March 2007 the subject recorded total current assets of
$215,660,000. They included cash of $43,210,000, receivables of $105,628,000
and inventories of $60,075.
Current liabilities at the same date totalled $83,345,000 and included
payables of $59,417,000 and employee provisions of $11,905,000.
As at 31 March 2007 the subject recorded Working Capital of $132,315,000
and a current ratio of 2.59 to 1 indicating strong liquidity levels.
At 31 March 2007, the group had access to term loan facilities totalling
$325,876,000. Theses facilities were drawn to $122,967,000 at this date.
Net Assets totalled $299,547,000 as at 31 March 2007. At this date, the
subject further recorded a Debt to Equity ratio of 0.72 to 1 showing low levels
of gearing.
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Campbell Brothers Limited - consolidated |
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As at 31 March 2007 |
As at 31 March 2006 |
Change (%) |
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Revenue |
$635,867,000 |
$485,484,000 |
30.98% |
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Profit b/tax |
$76,342,000 |
$48,964,000 |
55.91% |
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Profit a/tax |
$51,013,000 |
$32,715,000 |
55.93% |
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Net Profit Margin |
8.02% |
6.74% |
1.28% |
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Current Assets |
$215,660,000 |
$188,863,000 |
14.19% |
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Non Current Assets |
$300,269,000 |
$272,171,000 |
10.32% |
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Total Assets |
$515,929,000 |
$461,034,000 |
11.91% |
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Current Liabilities |
$83,345,000 |
$85,734,000 |
-2.79% |
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Non Current Liabilities |
$133,037,000 |
$118,648,000 |
12.13% |
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Total Liabilities |
$216,382,000 |
$204,382,000 |
5.87% |
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Net Assets |
$299,547,000 |
$256,652,000 |
16.71% |
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Working Capital |
$132,315,000 |
$103,129,000 |
28.30% |
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Current Ratio |
2.59 |
2.20 |
17.46% |
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Debt to Equity |
0.72 |
0.80 |
-9.29% |
TRADE SURVEY
During the current investigation, contact with the subjects principals
was unable to be established.
Subsequently details pertaining to the company’s suppliers were unable
to be obtained and a trade survey could not be conducted.
SUMMARY
The subject was incorporated in Queensland on 8 December 1910 under the
current style.
The subject was listed on the Australian Stock Exchange in 1952.
for the financial year ended 31 March 2007 the subject recorded revenue
of $635,867,000, which resulted in an operating profit before tax of
$76,342,000 and an operating profit after tax of $51,013,000 representing a Net
Profit Margin of 8.02%.
During fiscal 2007, the subject recorded Net Cashflows from operating
activities totalling $58,096,000.
As at 31 March 2007 the subject recorded Working Capital of $132,315,000
and a current ratio of 2.59 to 1 indicating strong liquidity levels.
Net Assets totalled $299,547,000 as at 31 March 2007. After deducting
intangibles of $136,533,000 this resulted in a Net Worth of $163,014,000.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)