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Wool Stocktake : AWI Annual Report 2014-15
Directors' report Your directors present their report on the consolidated entity (referred to hereafter as the Group) consisting of Australian Wool Innovation Limited and the entities it controlled at the end of, or during, the year ended 30 June 2015. The following persons were directors of Australian Wool Innovation Limited during the financial year and up to the date of this report: Mr W B Merriman (Chairman) Mr P Cocking Ms C Garnsey Mr J Morgan DrMLSheil Mr B P van Rooyen MrDAAWebster Australian Wool Innovation Limited is a not-for-profit company. Its principal activity as recorded in its adopted strategic plan is to drive research, development, innovation and marketing that will increase the long term profitability of Australian woolgrowers and the Woolmark brands. To achieve this mission, the Group receives funding from the Commonwealth Government of Australia by way of a statutory wool levy imposed upon Australian woolgrowers and a capped research and development matching fund contribution. Funding is also generated from revenue in respect of the Woolmark certification and ordinary trademark annual licence fees. 2014 $'000 Revenue 68,639 Profit / (loss) from continuing operations (14,324) There have been no significant changes in the state of affairs of the Group during the year. There has been no matter or circumstance which has arisen since 30 June 2015 that has significantly affected or may significantly affect the Group's operations, the results of those operations or the Group's state of affairs in future financial years. By actively and efficiently marketing wool and its attributes through investments in marketing and R&D - from farm to fashion and interiors - AWI aims to achieve its goal of increasing the demand for wool. Pursuant to the result of WoolPoll 2012 and following AWI's extensive planning and consultation cycle, AWI developed a three-year Strategic Plan in which there is a 60%:40% split in expenditure between marketing and R&D programs. AWI will continue to pursue stronger and more strategically driven programs. Specifically, in its on-farm R&D, AWI will target fewer programs with greater impact. Secondly, in the off-farm area, AWI will assess markets for investment more strictly on their potential yield for Australian woolgrowers. Thirdly, AWI will continue to simplify and align its marketing activities to address three core, pervasive trends: 1. "Natural" issues becoming important in consumers' purchasing decisions. 2. The rapid emergence of developing countries as the consumers of luxury goods. 3. The continuing 'disconnect' between the consumer of luxury fashion and the fibre it is made from. AWI will continue to operate in a cost effective manner. FINANCIAL REPORT
AWI Annual Report 2013-14
AWI Annual Report 2015-16