Qube keeps on building with record result


Development of the Moorebank precinct is high on the agenda

Qube keeps on building with record result
Maurice James is sticking with the strategy

 

Intermodal logistics and terminals operator Qube Holdings has kept up its cracking financial pace with a net annual profit after tax up 14 per cent from $77.3 million to $88.6 million.

Qube put the performance down to its strategic focus on the import and export supply chains and insists that this along with acquisitions will continue.

High on the agenda for the coming year will be progressing plans for the development of the Moorebank precinct into a major logistics hub.

"Qube has two quality operating divisions that continue to deliver increased earnings and strong cashflow, while the strategic assets division offers outstanding long term growth potential once the assets are developed and operational," managing director Maurice James says.

The Logistics division’s shift from road to containerised rail freight has continued, "typically as part of a broader logistics solution", the firm says, as its revenues rose 10 per cent to $593 million.

The purchase of CRT from Aurizon is should be finalised in October.

In the ports and bulk division, revenues rose 18 per cent from $499 million to $588 million, with the company saying "the oil and gas sector provides a major growth opportunity for Qube to leverage its logistics expertise and assets to deliver improved supply chain efficiencies and cost savings to the oil and gas participants operating in Australia".

Highlights here included enhanced its product and geographical capability with the acquisitions of Walmsley Bulk Haulage in the Pilbara and Beaumont Transport in south-east Queensland.

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