Business Description:
Ariadne Australia Limited (ARA) is an Australian investment company with operations in Australia and New Zealand. The company is engaged in areas of: car park infrastructure operations and management, investment management and financial services, and property development and maritime infrastructure ownership and operation.

Strategy Analysis:
ARA 's strategy is to focus on low risk short term development opportunities. ARA 's investment criteria to evaluate opportunities where there are prospects of strong cash flow generation. Growth will target improving car park occupancy rates and yield management. Ariadne's focus has been on the diversification of its operations to reduce its reliance on property development. Diversification was achieved via the acquisition of the car parking business. Ariadne acquired Kings Parking as a stable cash-flow business to support the group's more volatile property development activities. Significant growth is expected from the merger of Kings and Secure business, which was completed on 1 November 2004. The merger created the largest car parking business in Australia, with financial and operating capacity to pursue growth as in line with ARA 's strategy. The new business will manage revenues in excess of $200 million with over 200 car parks on the eastern seaboard of Australia. In June 2005, ARA announced that as a result of a strategic review it was exiting 4 development sites. The consist of Stage 2 of its Newstead Portal site, the Brisbane Administration Centre and City Plaza, 110 Mary Street and 140 Alice Street. These asset sales will generate net proceeds of approximately $2m for the period to 30 June 2005 and $15.55m in FY06, and also reduce liabilities by $3.4m.