The top 50 from Brisbane are an integral part of the Australian economy with a combined market capitalisation of $124 billion in businesses which employ more than 150,000 people directly.
From insurance and banking to travel, gambling, retail, property and pizza, these “heavyweights” have all had their fair share of issues to deal with but remain resilient in a changing economy.
Increasingly, Brisbane’s top companies are looking beyond Australian shores for growth and the likes of Flight Centre and Apollo Tourism and Leisure are in the midst of aggressive international acquisition strategies which have stamped them as emerging world players.
One of Brisbane’s former market darlings, Blue Sky Alternative Investments, is proof that being a listed company is not a guaranteed escalator to greatness. In March, Blue Sky was flying high with a share price of $11.50 backed by a steady stream of positive announcements.
Short seller Glaucus Research hit them hard and within six weeks, almost $1.9 billion was carved out of its value as it share price dropped almost 80 percent, prompting a board cleanout and withdrawal of guidance. Read more
Ben Hall et al. – Business News Australia – 28 May 2018