AJ Lucas Group annual report 2007-08

Chairman’s letter
What a year!
Lucas is now a very
different organisation
from two years ago.
Many positive things have happened since
our last report and your company has grown
substantially. However our core values are
unchanged: striving to deliver a quality service,
on time, on budget, and focused on our
employees’ safety and our clients’ needs. That is
what sets Lucas apart and is vital to our success.
This year we celebrate 50 years of business.
There have been many milestones along the
way, especially during the past couple of years,
as our strategy and the marketplace coincide.
In particular, our early investment in
coal seam gas assets and expertise is now
recognised by the market as this alternative
energy source has become mainstream. Our
continued investment in CSG has positioned us
strongly for the future.
While much of the economy is driven by
trends and a struggle for short-term gains,
we’ve maintained our strategic focus on
economic and societal necessities: water,
energy and resources.
A nation’s prosperity ultimately depends on
its access to these basic resources and services.
Lucas’ success and growth over the last
decade is based on this straightforward premise.
The key projects we’ve been engaged in:
Western Corridor recycled water project,
Bonaparte gas pipeline, Ivy entertainment
complex, Hyundai headquarters, creation of
Australia’s largest and only vertically-integrated
drilling business, development of the Gloucester
resource to project status—will all underpin the
lives of future generations of Australian families.
Our success is built on a deep understanding
of the economic drivers of our industries and the
technology that delivers them. It’s reinforced by
building close partnerships with our clients and
supporting our own people.
This has been the company’s most successful
year, a decisive affirmation of our strategy. Our
performance speaks for itself: revenue that’s up
96% to $424 million and an after-tax profit that’s
more than doubled to $13.5 million.
The key to it all is people. As Lucas grows, our
commitment to them increases. People’s safety
is of absolute paramount importance and is far
and away the company’s most important goal.
We are making increasing efforts in this area to
ensure that the larger Lucas workforce continues
to have a safe workplace.
We also continue to emphasise the
environment. Not only do we have a
responsibility as good corporate citizens; we
have a responsibility as excellent engineers
to minimise the environmental footprint of
infrastructure, to maximise the environmental
advantages to society with our designs, to
minimise the physical and social impact of our
projects’ construction while maximising the
long-term benefits to society.
Although there will be many more changes
as the company continues to develop, we intend
to ensure it doesn’t lose its heart and soul. On
behalf of the Board, I would like to publicly
thank all of the Lucas employees and customers
for their role in creating what has been a very
exciting and successful year.
We’re confident Lucas can keep pace with
market changes and continue to deliver for its
customers, its shareholders and the country.
Allan Campbell
Chairman & CEO
a year of milestones 3