Welcome resumption of stronger returns after two slow years
MaxiTrans has posted a 100 per cent rise in annual net profits to $10.7 million on an almost unchanged revenue take of $340 million.
The result brings the trailer maker’s profits back into double digit millions after recording $4.5 million and $5.2 million in the previous two years.
MaxiTrans saw a 2 per cent rise in Australian business offset by a 27 per cent decline in New Zealand.
In Australia, two years of falling trailer registrations have given way to growth, particularly with New South Wales construction and more crop production driving tipper demand.
The company says abouththe market more generally: “We continue to see an increase in the average age of trailer fleets, thereby placing increased pressure on operators to upgrade their fleets to take advantage of efficiency improvements resulting from trailer design innovation and to minimise maintenance costs.”
It is yet to see much momentum in that cycle but is banking on a return in business confidence to give it traction.
Freighter general freight products suffered from subdued market confidence, while Maxi-cube was waiting on the Coles deal for 395 refrigerated vans and trailers to kick in properly.
Parts and components arm MaxiParts gained 1.2 per cent in revenue, with the firm putting that down in part to the IT-driven Maxi-Stock inventory system and AirMax suspension system.
In the short term, the positives of the past year are expected to consolidate its position.
But in the longer term, the company is looking to research and development to drive interest in its products.
“We are excited to announce that MaxiTrans has formed a strategic alliance with Monash and Federation universities to enhance our research and development activities,” is says.
“Via this new collaborative agreement, we aim to further push the boundaries of trailer design and construction to increase the industry’s efficiency and environmental sustainability.”