22 October, 2019
Sugar Research Australia (SRA) has released a report on its performance for the 2018/19 financial year, with this publication explaining how SRA has delivered return on investment for its industry and government investors.
In releasing the 2018/19 Performance Report, SRA CEO Mr Neil Fisher said that SRA was committed to keeping all investors, research partners, collaborators and other stakeholders informed regarding the value that is provided by SRA.
“Our 2018/19 Performance Report is a companion document to SRA’s 2018/19 Annual Report and provides a snapshot of SRA’s performance against the 2018/19 Annual Operational Plan, including key outputs delivered during the year, as well as how SRA is tracking against the Key Performance Indicators (KPIs) for each of our Key Focus Areas (KFAs),” he said.
“This year’s Performance Report provides an abridged summary of our achievements and will be rotated every second year with a more detailed and comprehensive report.
“The industry continues to face headwinds with low global sugar prices and weather setbacks, which makes it even more important that SRA continue to deliver outputs and outcomes that add value to the industry.”
For example, in 2018/19, SRA’s investment delivered an aggregated return on investment of 4:1, increasing from 2.9:1 in the previous year.
SRA invested $38.1 million during 2018/19 across 184 RD&A projects and also made major advances with key initiatives such as improving the sugarcane breeding program and delivering the industry Adoption Strategy.
“We also launched the new NextCrop program, which saw nine emerging industry leaders develop their leadership skills, and we conducted 43 replicated Harvest Best Practice demonstration trials in 2017 and 52 trials in 2018, assisting the industry to improve the efficiency of harvest and put more revenue back into the value chain,” Mr Fisher said.
“SRA has listened to our investors and their need for us to demonstrate how we are providing value.
“We are delivering against the four goals in our Strategic Plan: driving profitability; improving sustainability; enhancing capability; and strengthening organisational excellence.
“Our Performance Report is one tool we use to communicate how SRA is delivering for our investors against these overarching goals.”
The Performance Report is available on the SRA website here.