AFG Corp’s foundation has been based around a family business owning and operating agricultural assets for over 100 years. Still to this day AFG Corp operates and owns rural enterprises although in a smaller way than previous decades and now under a more formal corporate governance.
In 2006 the strategic decision was made to diversify business interests to counter the seasonality of rural operations, de-risk against fluctuations in agricultural returns, and improve the cash flow profile of the business. In 2007 AFG Corp leased out the rural asset and entered, as a total newcomer, the residential construction industry based out of Brisbane. In 2010 AFG Corp partnered with five other like-minded people. Together, as a team, they set out to develop a residential construction business going by the motto “more than a roof over your head”.
By 2016 the construction business had become the number 1 residential house builder in Queensland and in the top 10 residential house builders in Australia. The business today builds over 1,000 houses per year, is one of the bigger townhouse developers in Queensland and turns over approximately $400m per annum with a healthy EBIT.
In a further significant strategic move, in 2016 AFG Corp made the decision to sell its shares in the construction business, start its own development business and re-commence operating the rural asset. Growing the property development business and pursuing innovative synergistic opportunities is the present strategic direction.
AFG Corp’s present corporate strategy includes diversification in information technology businesses.
Today AFG Corp operates under a strong corporate framework with a focus on governance. This allows each enterprise to operate as an independent corporation, maximising value and enhancing direct accountability.
AFG Corp’s vision is based around sustainability and helping humans flourish.