McAleese Limited’s group earnings during the 2013/14 financial year was $85.3 million, which was slightly ahead of the company’s projections and the revenue of $760.3 million was $14.8 million ahead of the previous year’s result.
According to McAleese, the increase in revenue was driven by contract wins and renewals in the Bulk Haulage division, which were offset by a sharp decline in North Queensland project work impacting the Heavy Haulage & Lifting division.
“We have implemented a range of initiatives to improve performance following a series of significant and unforeseen challenges encountered during FY14,” said Mark Rowsthorn, Managing Director and CEO of McAleese Group.
“As we stabilise each of our divisions and demonstrate improved performance during the first quarter of FY15, we will continue to strengthen our management and governance systems to ensure sustainable growth and performance in every division.”
McAleese’s asset sale program continues with the sale of Heavy Haulage & Lifting equipment, surplus Cootes Transport assets, the Cloncurry Quarry and Liquip International expected to generate proceeds in excess of $95 million.
Rowsthorn also confirmed his high expectations of the Group’s future performance. “Our medium term aim is to diversify our business across a range of activities, geographies and industries,” he said. “Our vision is to become a significant third force in Australian logistics through sustainable growth in specialist areas and we are laying a solid foundation for this strategy.”
.jpg)
.jpg)
