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CTI Logistics on acquisition hunt

Western Australia-based transport and logistics company, CTI Logistics has revealed its results for the FY16-17 and outlined its acquisition strategy.

According to an ASX release, the company fared well in 2017, with revenue up 2.5 per cent and EBITDA up 6.5 per cent compared to the previous year.

The group – which currently boasts a fleet of 700-prime movers, acquired Western Australian-based regional carrier, SRH Transport, in September 2016, which CTI said is part of its objective to develop a 'second to none' regional network in Western Australia.

The SRH acquisition in 2016 was part two of the company's strategy to become a national provider of transport and logistics services, which began in 2015 with the acquisition of GMK Logistics in June 2015.

According the CTI Logistics, the company will continue to pursue acquisition opportunities across Australia.

"The company is actively engages with our client base to seek opportunities to quote work in the Eastern Seaboard, and is confident of winning work in all states going forward," the company said in the presentation.

"This strategy will be augmented by selective acquisitions in the various states to increase our footprint."

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