Harrisons LTD - Case Study - Accounting and Finance Assignment Help

Assignment Task:

Task:

Harrisons Ltd is an Australian manufacturer of building materials and cement, founded in 1948 in NSW. Their operations include both manufacturing plants and wholesale distribution centers in 68 locations across Australia. They have developed a good reputation with their clients and employees and maintained strong relationships with their suppliers, who are all Australian owned and operated companies. However, there has been some recent lobbying activity by environmental groups who have expressed concerns regarding the pollution levels at their Coffs Harbour manufacturing plant. The CFO indicated to me that they do have some concerns about how this may affect their relationship with stakeholders in the community and their social licence to operate in the region. While revenues have grown year on year, and profit growth has been above 5% between 2016 and 2018, the CFO noted that inventory turnover had slowed in 2019, partly due to increased competition in the domestic market.

Extract from Construction Industry Forecast provided by the Australian Construction Industry Forum (ACIF)

ACIF Forecasts Market Dragged Down by Residential Construction but Not Out

ACIF Forecasts Market Dragged Down by Residential Construction but Not Out The Australian Construction Industry Forum (ACIF) forecasts that the decline in Residential Building will be so deep that it will dominate the outlook for building and construction, dragging down economic growth and employment. The outlook has been detailed in the latest Australian Construction Market Report, released today. ACIF indicates there have been recent signs of improvement in some markets, but it will take time for the impact to be felt throughout all building and construction markets. "The lowest interest rates on record have been reduced even more, despite this access to finance and credit has presented a significant hurdle to developers, builders, investors and owner occupiers. Market adversity has encouraged builders to withdraw from development of new projects; we witnessed new dwelling approvals plummet last year and commencements have also fallen. A fall in residential building activity is locked into the pipeline and this will take a while for this to be put into reverse," said ACIF Construction Forecasting Council Chair Bob Richardson.

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