First-half profit lift set to double compared with last year's first half as bullish WA operator rides boom
January 30, 2013
CTI Logistics has nearly doubled its forecast comparative first-half profit performance on the back of Western Australia’s booming freight scene.
Just two months after revealing that it expected profit before tax for the first half of this financial year to rise 33-40 percent over the previous first half, this has been amended to 60-62 percent.
“As previously reported, the increase in both revenue and profit stems from resource-related work,” Joint Managing Director and Company Secretary David Mellor says.
This had compensated for a “sluggish” performance by in the company’s courier operations focused on metropolitan Perth.
Last financial year, the firm had bought large independent courier firm Action Couriers.
At its October annual general meeting, management said the company planned to focus on: ramping up heavy and specialist haulage; on-line sales parcel distribution expansion, making its new Hazelmere distribution centre operational by this month; making at least one strategic acquisition.
