CTI Logistics boosts profits by a third

Purchase of Action Couriers heralds more to come as company sees off costs rises in 'challenging business environment'

August 31, 2011

Western Australian transport and logistics, property, security and manufacturing firm CTI Logistics has returned a 31.2 percent rise in annual profits to $6.2 million.

The pleasing result was gained on the back of a 19.4 percent rise in revenue to $72.5 million, from $60.7 million.

This came despite a $3 million rise in subcontractors expenses to $27.4 million and a $1.7 million rise in motor vehicle and transport costs to $4.7 million.

The Logistics and Transport division saw revenue rise to $64.4 million from $53 million the year before, for a profit before tax of $7.8 million, up from $6.4 million

Executive Chairman David Watson says the company is "confident that the recent strong growth in both revenue and profit will continue, in an increasingly challenging businesses environment".

"We have recently acquired the business of Action Couriers and we are considering several other possible bolt-on businesses within Western Australia," Watson adds.

"We are also looking to grow organically, in particular via our expanding Minerals and Energy division."

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