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FRIDAY 28TH JANUARY 2011
CEO survey reveals mixed
outlook for Asia Pacific
technology sector for 2011
A Deloitte survey of Asia Pacific’s fastest growing
technology companies revealed that just over half
(54 percent) had a strong growth outlook for the
next 12 months, while 43 percent predicted weak
or negative growth.
Undertaken in the fourth quarter of 2010 by 245 CEOs
across the Asia Pacific region, including 32 CEOs
from Australia, the survey asked them about their
growth experiences and challenges. The results were
published in the annual Deloitte Technology Fast 500
Asia Pacific 2010 Ranking and CEO Survey publication.
Even with the economic rebound this year, 35
percent of CEOs surveyed said they had mixed
performance in the past 12 months. Ten percent said
they saw overall decline in their business this year.
Half (49 percent) however, said they experienced
strong growth this year.
Damien Tampling, Deloitte’s Technology, Media and
Telecommunications lead Partner in Australia, said
that “while the prevailing attitude of CEOs in the
past surveys has been of optimism and expectation
of fast and sustainable growth, this has waned over
the past 12 months. The CEOs see a mixed and
cautious outlook, but they also see growth potential
especially in niche areas”
Key mortgage trends to
expect in 2011
Tune into Deloitte TV and Sky News and hear
Graham Mott, Partner in Deloitte’s A&A practice, talk
about what key mortgage trends to expect in 2011.
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Information sourced from Deloitte
Australian retail giants, Woolworths and Wesfarmers,
are now listed in the world’s top 25 retail companies,
according to the Deloitte Global Powers of Retailing
2011 report released in Australia.
The report, which identifies the 250 largest retailers
by revenue globally for the fiscal year 2010, lists
Woolworths in 20th (26th last year) and Wesfarmers
in 23rd position (28th last year).
Wesfarmers, whose acquisition of Coles in
November 2007 helped advance the West
Australian-based company’s 2003-09 compound
growth rate by 62.3%, jumped five positions since
the last Global Powers of Retail report (January 2010).
Andrew Griffiths, Assurance & Advisory partner
and Deloitte’s consumer business leader, said the
resilience of the two iconic Australian companies had
helped them to bounce back into the top echelons of
the world’s retailing elite.
“Woolworths and Wesfarmers continue to perform
well on a global basis despite the relative size of the
Australian market,” said Mr Griffiths.
“The other companies in the top 25 originate mainly
from heavily populated countries such as the United
States, Germany, UK, Japan and France. If you add
the fact that most of those also operate in multiple
countries, unlike Woolworths and Wesfarmers, you
get a far better appreciation of the relative strengths
of Australian retailers.”
“Our report also showed that despite a growing
global footprint, Top 250 performance by level
of globalisation shows that going global is not
a sure-fire strategy for sustainable growth,” said
“Sales growth for domestic only retailers outpaced
retailers with a more global base of operations. On
the other hand retailers with a larger global presence
were more profitable.”
Woolworths and Wesfarmers maintained their third
and fourth places in the Asia-Pacific top ten, which
for the first time includes a Chinese based retailer,
Bailian. Building on last year’s regional dominance,
Japanese retailers continue to hold six spots in the
Asia-Pacific top ten.
This year’s report shows that fashion goods retailers
have been the most active in terms of global
Mr Griffiths said: “In Australia we’ve seen a number
of large fashion brands such as Gap and Zara
opening stores. The Australian market is attractive
for a number of reasons. Many of our consumers
have already been exposed to their products through
online shopping and the US and European brands
benefit from the similarity in culture and fashion
tastes here in Australia.”
of Retailing 2011
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