Watson and Venter take executive roles with Moncrieff a non-executive
CTI Logistics continued to be rewarded by the market in the wake of an annual results rebound and moves on three directorships.
The company’s share price is at a 2021 high of 93 cents – a level not seen since November 2018 – after recording an $8.17 million profit after 2020’s (FY2020) $4.35 million loss due to accounting standards reform on property.
It may be the market took more notice of revenues rising from $215.2 million in FY2020 to $239 million.
The bounce was preceded by the price sinking to 44 cents in June 2020, its lowest since November 2006.
In between, it reached the record height of $2.75 in December 2013, during the long mining boom.
Read about CTI Logistics’ return to profit, here
Meanwhile, the company has two new executive directors and one new non-executive director.
Of the former, Matthew Watson was a non-executive director from 2010 to 2019 and an executive after that in the role of division general manager, safety, compliance and courier.
Venter has been at CTI since February 2014 and became company secretary in August 2016.
The new non-executive director is lawyer William Moncrieff, a specialist in corporate, commercial and resources law, including corporate advisory, governance and compliance.