Brambles 2006 Annual Report - Alle jaarverslagen

77
Brambles
2006 Annual Report
DIRECTORS’ REPORT
– OTHER INFORMATION
Review of operations and results
A review of Brambles’ business and operations, a review
of the results of those operations, the development and
performance of Brambles and details of any significant
changes in its state of affairs during the year and the
position of Brambles at the end of the year, are given
in the Chairman’s Review on pages 10 to 13, the Chief
Executive Officer’s Report on pages 14 to 17 and in the
Business Reviews on pages 20 to 27.
Information about the financial position of Brambles is
included in the Financial Highlights on pages 8 and 9,
the Financial Review on pages 38 to 43 and the Financial
Statements on pages 88 to 159 and 162 to 168.
Principal activity
The principal activity of Brambles during the financial
year was the provision of support services, in which it is
a leading global provider. There were no changes in the
nature of Brambles’ principal activity during the year.
Events since the end of the financial year
The Directors are not aware of any matter or circumstance
that has arisen since 30 June 2006 that has significantly
affected or may significantly affect the operations of
Brambles, the results of those operations or the state of
affairs of Brambles in future financial years, except as may
be stated elsewhere in the Chairman’s Review on pages
10 to 13, the Chief Executive Officer’s Report on pages
14 to 17, in the Business Reviews on pages 20 to 27 and
the Financial Review on pages 38 to 43.
Business strategies, prospects and
future developments
The business strategies, prospects and future
developments in the operations of Brambles in future
financial years and the expected results of those operations
known at the date of this Report are set out in the
Chairman’s Review on pages 10 to 13, Chief Executive
Officer’s Report on pages 14 to 17, the Business Reviews
on pages 20 to 27 and the Financial Review on pages 38
to 43. Further information in relation to such matters has
not been included because the Directors believe it would
be likely to result in unreasonable prejudice to Brambles.
Principal Risks and Uncertainties
Details of the use of financial instruments and the financial
risk management objectives and policies of Brambles
are set out in Note 17 on pages 114 and 115 and in the
Financial Review on pages 42 and 43.
The principal risks and uncertainties facing Brambles
are set out in the Corporate Governance Report on
pages 52 and 53. Risks are formally monitored by the
Board and management committees as described
in the Corporate Governance Report on page 51.
Dividends
The Directors have declared a final dividend of 13.5
Australian cents per share for BIL, fully franked, and a
second interim dividend of 5.446 pence per share for BIP,
a special dividend of 34.5 Australian cents per share for
BIL, fully franked, and a special dividend of 13.918 pence
per share for BIP consisting of 13.5 Australian cents per
share for BIL and 5.446 pence per share for BIP in lieu
of the 2007 interim dividend that would normally be paid
in April 2007 and 21 Australian cents per share for BIL
and 8.472 pence per share for BIP in recognition of the
success of the divestment programme. The dividends for
both companies will be paid on Thursday, 12 October 2006
to shareholders on the register on Friday, 22 September
2006. An interim dividend of 11.5 Australian cents per
share for BIL, fully franked, and 4.887 pence per share
for BIP was paid on 13 April 2006 making a total of 59.5
Australian cents, fully franked, and 24.251 pence per share
respectively for the year. Details of dividends paid during
2005 are provided in Note 11 on page 108.
Directors
Details of each person who was a Director of BIL or BIP
at any time during, or since the end of, the year, and the
qualifications, experience and special responsibilities for
continuing Directors are set out on pages 28 to 30 and 78.
Mr F A McDonald retired as a Director on 11 November
2005. Mr C L Mayhew was appointed as a Director on
23 August 2005, Mr G J Kraehe AO was re-appointed
as a Director on 12 December 2005 and Ms S C H Kay,
Mr D P Gosnell and Mr A T Froggatt were appointed as
Directors on 1 June 2006.
Under the constitution of BIL and the articles of association
of BIP, Directors are required to retire from the Boards
and offer themselves for re-election at least every three
years. Messrs R D Brown, M D I Burrows, M F Ihlein and
D J Turner will retire at this year’s Annual General Meetings
and, being eligible, offer themselves for re-election.
Implementation of the proposed Unification of the DLC
will be in its final stages at the dates of this year’s Annual
General Meetings but is expected to be completed during
early December 2006. Mr R D Brown, Mr M D I Burrows
and Sir David Lees had intended to retire as Directors
of BIL and BIP at the conclusion of those meetings.
To provide continuity of Directors throughout the
process of unifying the DLC, however, Mr R D Brown,
Mr M D I Burrows and Sir David Lees have agreed that,
instead of retiring at the conclusion of the Annual General
Meetings, they would retire as Directors of BIL and BIP
with effect from 31 December 2006 (that is, shortly after
unification of the DLC is, if approved, expected to be
completed).