Logistics News

Qube posts $77.3m profit

Company attributes 20 percent growth in profit to improved efficiencies as well as substantial interest in integrated logistics solutions.

August 23, 2013
Integrated logistics provider, Qube posts a $77.3 million profit, up 20 percent on 2012.
In a report issued today, the company said they had experienced record earnings and improved margins across all divisions.
Qube have attributed strong financial results to organic growth, an improved focus on efficiencies, substantial interest in their integrated logistics solutions, a continued improvement in safety, health and environmental
performance, as well as returns on investments from the previous year.
The company has two major business divisions: Logistics, and Ports & Bulk. More than 80 percent of Logistics’ transport and rail activity takes place on the East Coast of Australia (in NSW, Queensland and Victoria), while
55 percent of Ports & Bulk’s activity is in Western and South Australia.
In 2013, Logistics experienced growth in its rural exports and rail businesses, but was impacted by the loss of a major contract in South Australia, as well as reduced train activity due to the mining slowdown.
Ports & Bulk had record results with substantial growth in revenue and earnings, increased diversification, and a strong interest in mine-to-ship solutions.
Ports & Bulks associates benefitted from continued strength in car sales and imports, but were impacted by integration costs from Toll’s vehicle distribution business and a decline in sales of domestically manufactured vehicles.
So what is the outlook for the coming year?
According to the report, Qube predict bulk exports to continue, Webb Dock and Moorebank to provide continued opportunities, and solid levels of new vehicle sales to continue.
This positions them for sustainable long term growth, despite the challenging economic conditions.
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