Qantas 2005 Annual Report Download - page 47

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45
The Directors of Qantas Airways Limited (Qantas) present their report together with the Financial Report of the consolidated entity, being
Qantas and its controlled entities (Qantas Group), for the financial year ended 30 June 2005 and the Independent Audit Report thereon.
DIRECTORS
The Directors of Qantas at any time during or since the end of the financial year are:
Margaret Jackson, AC Geoff Dixon
Peter Gregg Paul Anderson
Mike Codd, AC Peter Cosgrove, AC, MC (appointed 6 July 2005)
Patricia Cross Trevor Eastwood, AM (resigned 31 March 2005)
Garry Hounsell (appointed 1 January 2005) Jim Kennedy, AO, CBE
Roger Maynard (resigned 8 September 2004) James Packer
John Schubert Nick Tait, OBE (resigned 8 September 2004)
Details of Directors, their qualifications, experience and any special responsibilities, including Qantas Committee Memberships, are set out
on pages 32 to 34.
PRINCIPAL ACTIVITIES
The principal activities of the Qantas Group during the course of the financial year were the operation of international and domestic
air transportation services, the sale of worldwide and domestic holiday tours and associated support activities including information
technology, catering, ground handling and engineering and maintenance. There were no significant changes in the nature of the activities
of the Qantas Group during the financial year.
DIVIDENDS
The Directors declared a final dividend of $189.8 million (final ordinary dividend of 10.0 cents per share) for the year ended 30 June 2005
(2004: final ordinary dividend of 9.0 cents per share). The final dividend will be fully franked and follows a fully franked interim ordinary
dividend of $186.8 million (10.0 cents per share), which was paid during the financial year.
REVIEW OF OPERATIONS AND STATE OF AFFAIRS
A review of, and information about, the Qantas Group’s operations, including the results of those operations and changes in the state of
affairs of the Qantas Group during the financial year together with information about the financial position of the Qantas Group appears
on pages 15 to 31. In the opinion of the Directors, there were no other significant changes in the state of affairs of the Qantas Group that
occurred during the financial year under review.
EVENTS SUBSEQUENT TO BALANCE DATE
For reporting periods beginning on or after 1 July 2005, the Qantas Group must comply with Australian equivalents to International
Financial Reporting Standards (A-IFRS) applicable at 30 June 2005 as issued by the Australian Accounting Standards Board. The
implementation plan and potential impact of adopting A-IFRS are detailed in Note 39 to the Financial Statements.
With the exception of the final dividend identified above and the increase in fuel costs referred to on page 12, there has not arisen since
the end of the financial year and the date of this Directors’ Report any matter or circumstance that has significantly affected or may
significantly affect the Qantas Group’s operations, results of those operations or state of affairs in future financial years.
LIKELY DEVELOPMENTS
Further information about the likely developments in the operations of the Qantas Group in future financial years and the expected results
of those operations has been omitted from this Directors’ Report because disclosure of the information is likely to result in unreasonable
prejudice to the Qantas Group. Further information about the Qantas Group’s business strategies and its prospects for future financial
years has been omitted from this Directors’ Report because disclosure of the information is likely to result in unreasonable prejudice to
the Qantas Group.
Qantas Annual Report 2005
~Directors’ Report~
for the year ended 30 June 2005