Longstanding operator Chalmers posts net profit built on a strong return from its transport and container divisions
By Brad Gardner | August 30, 2011
Longstanding transport and logistics operator Chalmers has posted a net profit increase of more than 70 percent on the back of solid returns from its transport and container divisions.
The Victorian-based Chalmers, which began operating in 1882, today announced a net profit of $3.59 million for the 2011 financial year, up from just over $2 million the previous year.
While it reported a “significant setback” due to the January Queensland floods that damaged large parts of the state’s road network, Chalmers says it managed to recover to meet customer demands.
The gross profitability of its transport operation rose 57 percent to $3.47 million, while revenues jumped 24 percent to $40 million. The container division returned a modest full-year gross profit for the first time in four years of $840,000, with revenues increasing 9 percent to $17.6 million.
“Both our main business segments – Transport and Containers – continued to improve their revenue and profitability,” Chalmers reports.
“Both Melbourne and Brisbane contributed to top and bottom line growth – with Brisbane improving its rate of return over the prior year which was affected by the GFC.”
The company, which began its push into the Brisbane market more than 15 years ago, says it has continued to invest in its capital expenditure program.
It spent about $5 million on new equipment and systems during the 2011 financial year, bringing total expenditure to $25.5 million in the three years to June 2011.
Meanwhile, it reported a 3 percent increase in depreciation charges due to money spent replacing trucks and trailers.