By WENDY GOULD
ELDERS’ annual real estate awards at Crown Perth on Saturday night provided a perfect forum to highlight company successes at the midway point of its financial year and especially for its real estate division.
Elders zone general manager west James Cornish said recent highlights included the acquisition of a further 10 per cent of its insurance portfolio giving a 20pc ownership stake, the purchase of a 30pc share in New Zealand livestock company StockCo and acquisition of four livestock agency businesses including one in Tasmania.
“Our share price has this year topped at $4.58 (a share) and our market capitalisation is more than $500 million when three years ago it was $50m,” Mr Cornish said.
Despite some market pressures, Mr Cornish said the WA real estate division had performed well.
“And bear in mind this is on the back of a 25pc increase over the past four years,” he said.
“We are looking at acquisitions but only of businesses that will add value and which have the right culture and management in place.
“This is why we are very excited about our recent purchase of Southern Districts Estate Agency because it is a company that is well run, is respectful and looks after its people.”
Mr Cornish said the purchase was also in line with company strategy to grow parts of the business that weren’t reliant on rainfall, live export or grain prices.
“We are highly exposed to seasonality and market fluctuations so our aim is to focus on areas not affected by these factors,” he said.
A mark of the importance of real estate in the future the company has just appointed a dedicated real estate marketing team to be headed up by Alex Ventura.
In closing Mr Cornish paid special tribute to his WA management team of real estate manager zone west Jim Sangalli, corporate account manager Malcolm French and real estate advisor Rebecca Layton.
Major winners on the night were Greg Smith, Elders Midland who won the Elders Real Estate Award for Excellence and was also named best rural sales performer and ranked at number three nationally.
Blair Scott, Albany and Will Morris, Merredin were the top two residential performers and also finished first and second respectively in the same category nationally.
Albany was named best branch, outstanding new talent went to Brendon Nowotny, Albany, for sales and Kathy Bunyan, Wetherall Bayswater for property management, Deidre Savage, Bunbury, was named sales support officer of the year for the second consecutive year and Kelsie Rodwell, Bunbury, claimed the rising star of the year award.
Apart from the award winners, the other special announcement on the night centred on Elders annual support of Princess Margaret Hospital Foundation.
Elders franchisees this year raised $21,289 for the charity bringing their total contribution to $90,000.