Portuguese stock investment services firm Sadif Investment Analytics backs CTI Logistics
By Rob McKay | September 20, 2010
The global nature of investment services has received a boost with Portuguese stock investment services firm Sadif Investment Analytics backing CTI Logistics.
Sadif describes the Perth-headquartered freight, courier and taxi trucks firm as an above average quality company with a neutral outlook.
“CTI Logistics Limited has strong business growth and is run by efficient management,” it says.
“The trend in CTI Logistics Limited fair value exchange rate against its closest rated-competitor, Chalmers Limited, has been depreciating over the past two weeks.
“When compared to its closest peer, K&S Corporation Limited, CTI Logistics Limited shows similar undervaluation and is equally likely to outperform the market.”
To a certain extent, the company can be said to have already delivered on that prognosis, having pushed its net annual profit to June 30 up 13.5 percent to $4.73 million on a near 20 percent rise in revenue.
Though the financial year saw the first full year of operation of Foxnet Taxi Tucks since being bought in April 2009 for $1.7 million, CTI did not break down its contribution to the annual bottom line in its preliminary final report.
However, it saysthe increase in revenue and cash flow are “mainly due to a full year’s result from a business acquired in the prior year”.
Meanwhile, its share price has risen past the $1 mark after experiencing high volatility in March and April in its lightly traded stock.
In a letter to shareholders last month, CTI Executive Chairman David Watson highlighted “significant new contracts with major companies” and the purchase of 40,000sqm of land at Hazelmere, near the airport and close to the Great Northern and Great Eastern highways as highlights.