ASC has released its 2016/17 Annual Report, recording a profit after tax of $29.2 million and annual revenue of $811.1 million.
Chairman, Bruce Carter, said ASC continued to achieve major productivity and efficiency improvements over the period.
“For the first time in Collins Class history we celebrated a period where five submarines were in the water at the same time, the successful launch of the second future destroyer, Brisbane, and delivery of the first-in-class future destroyer, now HMAS Hobart,” Carter said.
ASC’s Interim Chief Executive Officer, Stuart Whiley, said ASC’s submarine business achieved better-than-benchmark performance in its core Collins Class Submarine maintenance operations, and continued to grow its capability to assist the Future Submarine program.
“Among the year’s highlights was a major upgrade to ASC’s Western Australian facility to improve efficiency; the Federal Government announcing that Collins Class sustainment was an “exemplar Defence program” following a further review by Dr John Coles; and an agreement between ASC and the Commonwealth to extend ASC’s submarine maintenance contract into a further five-year performance period,” Whiley said