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ASX 300+ for mid-market enterprises: Secrets to success
Secrets to success of the ASX 300+ for the mid-market
Drawing on publicly available information and data, we have delved into six key priorities of change – boardroom diversity, digital technology investment, acquisition strategy, funding arrangements, shareholder composition, and tenure and remuneration – to discover the trends, challenges and opportunities for the ASX 300+ in each.
Six priorities of opportunity and challenge
KPMG Enterprise analysed 664 ASX 300+ companies, including 626 local entities and 38 foreign companies listed in Australia. The ASX 300+ operate across all sectors of the economy and in all Australian states and territories.
Key findings
- Diversity matters: Female CEOs in the ASX 300+ delivered a 9 percent increase in revenue in 2016. Companies with women on their Board achieved higher revenue growth, profitability and shareholder returns.
- Entities that completed an acquisition saw an 11 percent boost in revenue overall for the year, compared to a backward trend of 2 percent for the remainder of companies which did not complete an acquisition.
- Companies investing in intangible assets such as digital technology are growing their revenue at a faster rate than those which are not.
- ASX 300+ companies with a dominant shareholder (>50 percent equity) performed better than other companies in both revenue growth and profitability improvements.
- 15 percent of the ASX 300+ are showing some financial distress in terms of their working capital position.
- Chairperson tenure of more than 10 years is linked to better financial performance.
- Remuneration of Directors is widely dispersed across the ASX 300+, from no remuneration to multi-million dollar packages.
Company information – all data and financial information was taken from the publicly available Annual Financial Reports of the 700 companies – these are available on www.asx.com.au by searching the entity and downloading the report. There were no other sources of information for the financial data. For most companies the information was from their 30 June 2016 Annual Financial Report, however a number of companies have different year ends and we have used the ‘latest’ information for each company.
