Managing Director's Review
It is a pleasure to once again be in a position to report a very strong result following the first full year of operations of the enlarged Radley Group. The Group, which now includes the Chatham Salt and Rural businesses, has assets of $200.7 million and achieved a net profit after tax of $ 11.1 million. This represents a 150% increase on the $4.4 million reported for the same period last year.
*We swallowed up another business with all the grace of a first timer in a German porn movie. Look..we made money. More than last year. I got a new fuck'n porsche out of it!*
Last year I listed a number of aims which Radley wished to achieve.
*I wish I could remember what I actually said. I was pretty pissed! I remember commenting on my secretary's big hot ass, then I passed out on the photocopier with my pants on my head. Mate..that was a board meeting!*
The Company declared its maiden dividend in March 1992 and has subsequently paid an increased and fully franked dividend every six months, thus building on the performance that was recognised in the previous year by the Australian Business Monthly when it awarded Radley the Acorn Award for the best growth company in Australia.
*I overhead some bastard at the club saying that the Acorn Award is actually awarded to the "blokes without nuts". So I punched him in the back of the head and pissed on the mongrel.*
Another aim was to merge the Chatham Salt and Rural businesses with the Emerald Salt and Ballarat Stockfeed operation in such a way that the synergies and strengths of the enlarged business were maximised.
*haha..I almost chuck every time I use 'synergies', but those poofs who buy our shares really love it. I mean, really, 'salt', 'stockfeed', 'synergies' and 'strengths' in the same sentence? I should start an infomercial division, and sell stockfeed as a new-age ass massaging media for the hippies.*
The synergies we expected are happening with savings and benefits being realised. Inefficient production facilities have been closed and sales, marketing and administration costs have been rationalised. Further synergy benefits will be realised as longer-term projects come to fruition during the next 18 to 24 months.
*We finally got rid of those sheltered workshop feebs who bagged the salt for us. Sure, we only paid them in butternut cookies and milk, but we bought a really shiny machine that does the same job for only $12 mill a year more. Never liked those retards..they dribbled too much. One of 'em dribbled on my suit once, so I tipped the bastard's wheelchair over.*
In response to the Group's growth and geographic spread, Radley's corporate office has created a number of essential positions. Firstly, we have separated the company secretary and financial management responsibilities. Secondly, recognising that the Group's approximately 800 staff, spread over 25 locations in NSW, Victoria, Queensland, South Australia and WA, needed a central department to coordinate such functions as training and career development, a Human Resources department, headed by a newly appointed human resources manager, was established in November 1992. Thirdly, consistent with our aim to be a high quality producer, a manager was appointed to coordinate Radley's Total Quality Management program. Finally, a research and development committee has also been established to identify and foster R & D projects.
*faaaark...that paragraph stretched me. I need a friggin' beer, a smoke, and a quick shag. My nephew Davo needed a job, so we made the new position of financial management responsibility person. I hate the fucking little scrag, so if the embezzling scheme is ever uncovered, guess who it's gunna point to? haha. We've got a HR department now. I employed one of the feebs we sacked from the salt bagging operation. He's in charge of personal development programs and re-skilling. I still faarkin' don't know what Total Quality Management is, but Business Review Weekly ran a piece on it, and they're a smart bunch of wankers. Don't let R & D fool you; they're just the blokes who pay for the tarts we get when we meet with the japs.*
An Executive Committee comprising the Managing Director, General Manager Finance, Company Secretary and the two General Managers from the Stockfeed and Salt operations acts as a steering committee, ensuring company policies and strategies are implemented, as well as providing a forum for dialogue and communication between the Group's key segments.
*Note: Need to buy a few slabs of beer, a carton of fags, and some porno movies for our next meeting.*
Total capital expenditure for the Group during the financial year under review was $5.2 million. The major thrust has been to improve the efficiency of various sites through medium-sized projects. One significant project spanning two years was a computer systems upgrade which will standardise hardware and software throughout the Group. On completion this project will cost approximately $1.0 million.
*That fuggin' geek who runs the nerdboxes was pissing in my ear about some computer crap, so I said "listen, professor microsoft, take a million bucks, fuck off, play some more wanky minesweeper games with your nerd friends in IT. Just make sure my porn site bookmarks in Netscape explorer are up to date, and I won't skullfuck you and demote you to salt bagging".*
Radley's objective to be the best and most reliable supplier in its markets can only be accomplished with the full support, involvement and commitment of all employees. This requires that all employees have the chance of a satisfying job in a safe environment. To this end Occupational Health and Safety committees operate effectively at all sites, with training sessions being arranged to facilitate the introduction of new safety legislation.
*Friggin' hell...this is the funniest thing I ever wrote. I sprayed beer all over my secretary as I was dictating it to her. I could see her tits through her wet blowse! Didn't get much work done that day mate! We get a tax write-off for the training sessions and committees. Lucky the bludgers we employ don't know about 'em.*
Enterprise bargaining agreements have been negotiated and completed for both Stockfeed and Salt employees. These were possible because of the existence of sound industrial relations within the Group. Training continues to be a major focus with employees attending external courses or in-house training seminars.
*I said.."look, you fuckn' cunheads! You've got a choice right...more hours and less pay, or you can fuggin' get fucked and fug off fuck'n home and tell the missus she's gunna have to fuggin' go back on the street. And another thing, there's a video machine and a tape over there with 'salt bagging best-practises' or some shit written on it. I want every last one of you wankers to watch it before you go home. Now fug off backtawork ya pricks."*
G. P. Bundy
*Gazza*
Managing Director
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