CTI Logistics sees profits and costs on upswing

Perth firm looks to expand warehousing to 'leverage growth'

By Rob McKay | February 28, 2011

CTI Logistics has reported a 59 per cent increase in first-half profits to $3.6 million mostly, with much if the gain due to its fleet management services.

In concert with other transport and logistics firms, CTI recorded significant costs rises compared with the previous first half.

Subcontractor expenses rose from $11.9 million to $13.7 million, whyile motor vehicle and transportation costs jumped from $1.4 million to $2.4 million

"When we wrote to shareholders in December 2010, we noted that the gains in both revenue and profits were primarly due to new fleet management contracts and to the expansion of the warehousing and distribution division," David Watson, the courier, taxi truck, fleet management and logistics company’s Executive Director says.

"The outlook for both theses areas remains positive.

"Further, to leverage our continued growth, we have recently leased two new warehousing facilities.

"We are hopeful of gaining permission to develop our Hazelmere site as an additional warehousing and distribution centre in the near future."

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