Transport behemoth Qube has revealed positive financial results for the first half of financial year 2022 (FY22) despite COVID impacts to the economy.
In a statement the company said the strong result underscored the company’s strength and resilience in dealing with a challenging set of operating conditions of late.
Qube’s Operating Division, particularly Logistics and Infrastructure, reportedly delivered high volumes across most parts of the business.
According to the statement, Qube’s underlying net profit after tax plus amortisation (NPATA) is up around 17 per cent and the half year dividend up 20 per cent to 3.0 cents (fully franked) off the back of surging revenue.
“This is a very strong result in the face of COVID uncertainty and the global supply chain disruptions,” said Qube Managing Director Paul Digney.
“It demonstrates once again the robust and resilient nature of Qube’s diversification strategy.”
For more than a decade, said Digney, we have been building Qube to ensure diversification by asset, location and customer nationwide.
“Crucially this has meant Qube has weathered the economic impacts of COVID and emerged with a positive earnings outlook in all sectors of the business,” he said.
“Qube is also well placed to manage any emerging inflationary pressures including through contractual protections, ongoing productivity initiatives to increase efficiency and reduce costs, and pro-active engagement with customers to review their broader logistics supply chain requirements,” said Digney.
In other news, Qube Logistics modernised its sideloader fleet.
Last year, Qube reported strong profit growth.