ADCO recognises the importance of financial security in a construction partner. Throughout our history we have maintained a policy of profit reinvestment and working capital management to ensure our balance sheet is commensurate with the size of our business. The company has strong cash reserves, no debt and a blue chip client base translates into consistent cash flow and profitability.
The strength of our balance sheet has enabled ADCO to satisfy government pre qualification for individual projects valued up to $150 million, as well as the financial requirements for licensing in each State and Territory.
Each year the ADCO group’s Financial Statements are independently audited by external accountants in accordance with International Financial Reporting Standards (IFRS). This independent audit provides the necessary reassurance for both our clients and project financiers of ADCO’s capacity to complete our projects.
ADCO’s full audited financial statements are available on request. However, detailed below are key extracts from the Financial Statements for the year ended 30 June 2017.