Korvest : 2017 Korvest Annual Report

22001177 ANNUAL REPORT

Korvest Ltd

ABN: 20 007 698 106

Annual Report, 30 June 2017

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DIRECTORS' REPORT	6
REMUNERATION REPORT - AUDITED	10
5 YEAR SUMMARY	20
FINANCIAL STATEMENTS	23
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME	24
CONSOLIDATED STATEMENT OF FINANCIAL POSITION	25
CONSOLIDATED STATEMENT OF CASH FLOWS	26
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	27
NOTES TO THE FINANCIAL STATEMENTS	28
DIRECTORS' DECLARATION	55
INDEPENDENT AUDITOR'S REPORT	56
LEAD AUDITOR'S INDEPENDENCE DECLARATION	61
ASX ADDITIONAL INFORMATION	62

KORVEST LTD:

A MARKET LEADING INFRASTRUCTURE PROVIDER

Since 1970, Korvest Ltd has grown to become Australia's largest manufacturers and suppliers of cable and pipe support systems trading as EzyStrut. EzyStrut produces a range of standard, customised and innovative products. Queensland based Power Step and Titan Technologies design and assemble access systems for large mobile equipment as well as bolting solutions. Korvest Galvanisers operates a hot dip galvanising business in South Australia servicing a range of local and national customers.

Korvest's workforce of around 170 employees is multi-skilled, and lead by a central management team.

The EzyStrut manufacturing plant and national distribution centre are in Adelaide servicing sales offices and warehouses in Adelaide, Melbourne, Sydney, Brisbane and Perth, and distributors in Darwin, Townsville, Hobart and New Zealand.

AUSTRALIA'S LEADING RANGE OF CABLE AND PIPE SUPPORT SYSTEMS

EzyStrut manufactures one of the most diverse ranges of cable and pipe support solutions in the industry, suitable for almost any application and in a variety of finishes.

EzyStrut's products are found in numerous iconic Australian locations, including commercial constructions, wharfs, mine sites, tunnels, power stations and more.

A contributing factor to EzyStrut's continued success is the ability to deliver customised cable and pipe support solutions at competitive prices while maintaining an extensive shelf range.

EzyStrut remains the largest Australian manufacturer of cable and pipe supports.

www.ezystrut.com.au

SAFETY ACCESS SYSTEMS FOR ALL LARGE MOBILE EQUIPMENT

All access systems supplied by Power Step are designed and manufactured in Australia and offer access solutions for equipment in the mining, rail, marine and aviation industries.

Power Step exports its products to Indonesia, Papua New Guinea, New Zealand, New Caledonia and beyond.

Since its inception, Power Step has manufactured and sold over 800 access systems. Power Step has designed access systems for all major OEMs.

All access systems designed by Power Step comply with the relevant Australian Standards (AS1657/ AS3868/SAE J185).

www.powerstep.com.au

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