Going outside the box beneficial for Qube
The boss of a major Australian transport and logistics firm has used the year’s big net profit to highlight the innovation he believes is required to succeed.
Qube Holdings has posted a net profit of $77.3 million for 2013, a dramatic turnaround from 2012’s $2.5 million loss. Qube CEO Maurice Jones says that this year’s big figure shows the benefit of forethought, scaling and investments.
"I strongly believe in economies of scale and I don't think we're anywhere near capacity or at the bottom of the cost curve," Mr James said to investors. To further boost shareholder confidence, directors recommended a 2.3c fully franked final dividend, taking the full-year payout to 4.5c, up 10 per cent.
Qube has stayed afloat this year by diversifying their base of operations; taking on rural transport, mineral haulage and other handling duties to weather the downturn experienced in some major sectors.
It has been far from an uneventful year for Qube. The company was embroiled in protests, legal action and industrial disputes as fallout for a decision to sack a Tasmanian employee for misconduct earlier in the year. The decision led to a protracted stoush with the Maritime Union of Australia.