Sydney Markets Limited owns and operates Australia's largest markets, and is recognised as a world leader in fresh produce and community market management.
The company provides an environment that supports competitive trade and effective distribution. It aims to achieve operational excellence, innovation and business development, together with strong leadership, management and teamwork.
It operates wholesale and community markets and offers an extensive range of services that add value for shareholders, tenants, their suppliers and customers.
Our Mission
Mission Statement
"Providing a safe and innovative environment that supports competitive trade, effective distribution and growth."
Our Values
01
Place the safety of all, above all
02
Treat everyone with respect, fairness, integrity and honesty
03
Encourage and reward teamwork
04
Embrace accountability and strive for excellence
06
Be open in our communication with all stakeholders
Our Vision & Goals
Our Vision
"To be the World's leading produce, flower and retail market, by applying commercial and innovative leadership."
Our vision is characterised and supported by six goals:
Goal 01
Demonstrate Strong Financial Disciplines for the viability of SML
Goal 02
Deliver Innovative and Safe Logistics Management
Goal 03
Engage with our Stakeholders
Goal 04
Secure a Strong Brand Position and Corporate Image
Goal 05
Secure the Future of Sydney Markets Limited
Goal 06
Unlock the Value held within the Flemington Site
Corporate Governance Statement
Board Composition
The composition of the Board is in accordance with the criteria laid down in Sydney Markets Limited's Constitution.
Directors' Shareholdings
No Director holds or is able to hold any share in Sydney Markets Limited except where they have a share entitlement as a holder of tradeable space in accordance with Sydney Markets Limited's Constitution.
Directors' Committees
Directors' Committees encompassing the Finance, Audit & Risk Committee, Sustainability Committee and People & Remuneration Committee operate during the year and meet on a regular basis.
Ethical Standards
Directors, staff and contractors are required to abide by Sydney Markets Limited's Code of Conduct.
Insurance of Officers
During the financial year, Sydney Markets Limited paid insurance premiums for Directors and Officers Liability Insurance in respect of any person who is or has been a Director or Officer of Sydney Markets Limited. The terms of the policy do not allow the amount of the premium to be disclosed.
Operations
More than property management
Sydney Markets Limited is more than just a property management company that collects rents and fees from its tenants. Market operations are complex, with huge tonnages of highly perishable fresh produce from all over Australia moving through them each day. The community markets attract very large crowds, and these operational pressures are managed effectively through excellent systems put in place by the company.
A commitment to excellence
The Chair, Directors, Chief Executive Officer, Management and staff of Sydney Markets Limited are strongly committed to operational excellence, and to the delivery of a high standard of customer service to tenants at all times. Within that framework they are focused on the continuing commercial viability of the company and the markets as a whole.
Ensuring best practice
A team of over 80 employees, supported by numerous contractors, strive to ensure that best practice is achieved in financial management and corporate services, marketing and promotions, operations, property management, facilities maintenance and development.
Supporting trade and distribution
Sydney Markets Limited is constantly focused on delivering the best environment that supports competitive trade and effective distribution — through operational improvements, facilities upgrades and innovative marketing initiatives, including a commitment to technological innovation, safe and efficient trading conditions and effective waste management strategies.
Industry Consultation
Council of Market Representatives
The Board of Sydney Markets Limited is of the view that there should be continuous and meaningful dialogue between SML and people who conduct business activities at the Markets or regularly use its facilities, and who are members of an industry group specified in accordance with the articles of association. The Council of Market Representatives acts as an advisory panel to the Directors and is chaired by SML's Chair.
SML's management is able to understand first-hand the goals, objectives and priorities of the people most directly involved in day-to-day business at the Markets. Specific issues on which the Council may deliberate and report to the Directors include:
- The operation and efficiency of the Markets
- The development of initiatives to ensure optimal operation of the Markets is achieved and maintained
- The interaction between tenants and other users of the Markets and the concerns of both groups
- Ensuring all users have proper and reasonable access to the facilities of the Markets
- The promotion of the Markets and all its activities
- The degree of customer satisfaction with the wholesale and retail activities of the Markets
The Council has no authority to bind Sydney Markets Limited.
Benefits of Sydney Markets & the Central Markets System
Creating the best environment
The facilities at Sydney Markets were specifically designed to receive, store, trade and distribute highly perishable fresh fruit, vegetables and cut flowers. Sydney Markets is constantly evolving to ensure modern, efficient and technologically advanced facilities and services are available to meet demand.
Servicing Australia's consumers
Each day thousands of buyers — greengrocers, supermarkets, florists, food processors, restaurants and other food service outlets — purchase fresh produce through Sydney Markets. The fresh produce these businesses sell is consumed by people from all over NSW and the ACT, constituting almost one-third of Australia's population.
Choice and competition
True market forces of supply, demand and competition determine prices at Sydney Markets. There is no intervention, quotas, or minimum or maximum selling prices. This allows buyers freedom of choice and the opportunity to make a personal assessment of quality and availability.
Operational efficiency
Operations are constantly reviewed with the aim of improving cool chain systems and minimising disruptions to distribution channels. This preserves the quality of fresh produce, reduces food safety risks and ensures all markets operate efficiently, effectively and securely.
Building strong relationships
Sydney Markets provides opportunities for suppliers, wholesalers and buyers to build strong business relationships through a unique environment of healthy and open competition.
Economies of scale
Sydney Markets offers economies of scale that enable it to pass savings on to tenants — through bulk purchases of items such as electricity, telephone communications and maintenance.
Promoting Sydney Markets
The benefits of trading at Sydney Markets are actively promoted through advertising, public relations, horticultural and professional scholarships, sponsorships and promotions across retail, industry and the wider community.
Effective marketing
The popularity of the community markets is attributed to comprehensive advertising campaigns, a dynamic range of promotions and the variety, quality and price of products for sale. A yearly calendar of events enhances the shopper experience.
Fresh for Kids
The Fresh for Kids Program educates and encourages children to consume greater quantities and varieties of fresh fruit and vegetables, supported by life-size produce characters, the NSW Premier's Sporting Challenge and the multi-award winning website
freshforkids.com.au.
