PHOTO: Geoff Lucas – McGrath
McGrath Limited’s chief executive officer has revealed he is moving on from his role at the real estate giant, with the Board announcing his successor following the release of the company’s FY2020 financial report.
Geoff Lucas said it had been pleasing to lead the McGrath team “through a period of regenerating the McGrath business”.
“The turnaround marks a new beginning for the company.”
According to its full-year ASX announcement, revenue for the McGrath company is up 11 per cent to more than $90 million in FY2020.
With an increased market share and the successful acquisition of four company owned offices over the course of the year, the real estate household name revealed a strong balance sheet for the 12-month period to June 30, reporting $17.3 million cash and no debt.
He said with the business now in a strong financial position to navigate through the uncertainty of the current environment, the now former CEO said “it is now time to hand the business to refreshed leadership to continue successfully into the future”.
READ MORE VIA REB
