2005 proved to be a year of significant growth and success for Western Australian listed companies, according to a recent stock exchange performance report.
The Deloitte WA Stock Exchange Index, provides a review of major changes in capitalisation of WA listed companies, and highlights of individual company movements in 2005.
According to the report the increase over the calendar year took the total market capitalisation of WA listed companies to $83.4 billion at December 31.
In the last 12 months the Deloitte WA Index rose by 31.9 per cent, continuing its trend of substantial out-performance of the benchmark ASX All Ordinaries, which rose 16.2 per cent.
Individual company highlights included Woodside Petroleum, which doubled its market capitalisation from $13 billion to $26 billion and is now the largest WA listed company.
Paladin Resources also enjoyed a stellar year, leaping from a position of 48th in the previous year to 15th in 2005 in terms of WA companies by market capitalisation.
The company also recorded the largest increase in market capitalisation by percentage with growth of over 400 per cent.
Triple digit growth was also recorded by Fortescue Metals Group and the United Group.
Overall, the top 20 companies in 2005 increased their market capitalisation by more than $16 billion, or 37 per cent.
Commenting on the results, Keith Jones office managing partner of Deloitte Perth said that the success of WA companies was fuelled by the demand for resources and the capacity of companies to identify, develop and market the state's resources.
"Given the growth in the Western Australian economy, I expect the trend of the WA Index outperforming the ASX All Ordinaries will continue over the next 12 months," Mr Jones said.
