Objectives, strategies and key performance measures HIA’s purpose is to promote the development of the industrial resources of Australia in the building industry. In pursuit of its purpose, HIA has regard to objectives that promote: • the association of members of the residential building industry; • the highest standards of professional and commercial conduct; • continual improvement of industry techniques and practices; • excellence in construction; • an adequate supply of industry skills and the availability of appropriate and sufficient industrial resources to the residential building industry for the provision of appropriate housing to all people in Australia; • efficient and equitable employment and contracting arrangements; and • the use of building products, systems and methods that efficiently utilise or ensure the long term viability and sustainability of Australia’s industrial resources. Focused on being “a building practitioner’s indispensable business partner”, the Board’s strategy is directly aligned to HIA’s mission to: “promote policies and provide services which enhance members’ business practices, products and profitability, consistent with the highest standards of professional and commercial conduct”. In pursuing its organisational strategy, specific strategic initiatives and plans have been devised to: • grow membership; • improve and effectively market HIA’s member proposition, business offering and dealings; and • address the political, regulatory and structural capacity of the building industry. Performance measures are aligned with both HIA’s strategic objectives and financial targets. The HIA Board ensures the appropriate governance arrangements, risk management processes, systems and controls are in place to ensure the integrity of reporting arrangements needed to monitor performance of the entity. Dividends The Constitution of HIA does not permit the distribution of dividends to members. Review of operations The profit of the Group from ordinary activities amounted to $552,123 (2016 profit: $750,888). Significant changes in the state of affairs There have been no significant changes in the state of affairs of the Group during the year. Matters subsequent to the end of the financial year No matter or circumstance has arisen since 31 December 2017 that has significantly affected, or may significantly affect: • the Group’s operations in future financial years, or • the results of those operations in future financial years, or • the Group’s state of affairs in future financial years. Likely developments and expected results of operations Information on likely developments in the operations of the Group and the expected results of operations have not been included in this financial report because the directors believe it would be likely to result in unreasonable prejudice to the Group. Environmental regulation The Group is not affected by any significant environmental regulation in respect of its operations. 96 HOUSING MAY 2018