AWI makes significant progress across all business areas

AWI’s role is very broad; from helping woolgrowers protect their flocks from wild dog attacks through to influencing the world’s major fashion houses to use more Australian wool in their next big collections.

Addressing the AGM, broadcast live at wool.com, AWI CEO Stuart McCullough said the company had changed significantly in recent years but continued to focus on delivering results for woolgrowers.

“Flies, lice, dogs, shearer training and genetics/genomics are at the core of AWI’s expanding on-farm research investment. We also work with hundreds of retail and brand partners, putting wool in front of consumers in all key markets. The measurement of these marketing investments proves we are influencing the demand for wool.”

For the 2011-12 Financial Year, the AWI project spend increased from $24.3 million to $40.5 million. With an income of $73.9 million, the operating surplus was $7.8 million.

“We have made significant headway across all areas of the business this year. AWI is a very different organisation to four years ago and the independent review of performance released in August are testament to this,” Mr McCullough added.

At the AGM, the 2012 WoolPoll figures were also released. A record total of 60.94% of eligible votes were returned by 41.72% of voters as part of the triennial vote. Mr McCullough confirmed the 2% vote was successful, with 60.34% of votes nationally supporting a levy of 2% or more.

“There are a number of important trends that we must address and consider for the future. It is interesting to note support for the 0% option reduced considerably. We will take some time to review the results in detail, talk to growers and see how we can continue to improve the way we do things”.

AWI remains focused on getting on with business to continue delivering results for woolgrowers both in the paddock and in retail stores around the world.

Australian Wool Innovation (AWI)