Acquisitions help boost full-year results of many transport and logistics rms with positive outlook for current nancial year
S everal supply chain, services and logistics companies saw overall growth despite fluctuations in certain divisions. One of the common denominators for this increase was targeted acquisitions except in the case of rail freight operator Aurizon, which divested a key division following a massive fall.
The company’s intermodal arm took the biggest hit as Aurizon dived into a full-year loss. Disruption in operations following Cyclone Debbie was one of the primary reasons for this. Significant financial losses in intermodal over the years led to the decision to sell the Queensland business to a consortium of Linfox and Pacific National, with the latter also snapping up Aurizon’s Acacia Ridge terminal. Aurizon MD and CEO Andrew Harding said the changes will see simpler structure and greater management accountability.
Meanwhile, logistics giant Qube Holdings saw slight profit dip, with one-off items taking the edge off solid annual results performance. The firm saw costs and impairments take the gloss off income growth.
Automotive Holdings Group’s (AHG’s) Refrigerated Logistics arm recovered as the company’s overall profit took a hit. Other factors including items linked to restructuring and changes, and car market softness hurt its bottom line.
Logistics software provider WiseTech’s full-year results figures soared in the past financial year. The company plans to continue full and share acquisitions of international freight management solution providers to add value to its integrated logistics platform, CargoWise One. Fleet management company SG Fleet also saw full-year profits on the up and up owing to contributions from both fresh acquisitions and organic growth.
Waste management firm and major fleet owner Toxfree kept profits and projects rolling, with acquisitions including DanielsHealth Australia, JJ Richards’ industrial business in Roma and Active Industrial Solutions.
Meanwhile, Ahmed Fahour can look back on his departure as Australia Post boss fondly as the government enterprise