Chairman's Review
Fellow Shareholders,
I am pleased to present the seventh annual report of WDS Limited. In FY13, against a backdrop of an uncertain economic environment and with declining sentiment in the mining sector, we set and, I am happy to report, achieved three strategic goals.
We were determined:
- first, to maintain a strong balance sheet with minimal debt;
- secondly, to improve the quality of our earnings through better risk management and delivery performance; and
- thirdly, to ensure that we maximised the long-term opportunities on the back of the major investments in Coal Seam Gas (CSG) development, particularly in Queensland.
In the last financial year, WDS achieved all of these goals and, in so doing, created a sound platform for further profitable growth in FY14.
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