Qube shares lower on modest growth outlook
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More news: Qube shares fell on the ASX after the logistics provider said it expects modest growth in FY25 compared to strong growth last year.
Shares were down 1.5% to $3.87 by 3pm AEDT, having advanced around 20% since January.
Qube flags modest growth for FY25 but reaffirms guidance
The news: Logistics provider Qube Holdings has reaffirmed its outlook for full-year profit and earnings growth after steady results in the first four months of the fiscal.
The numbers: The company said all of its markets performed broadly in line with or above its expectations during the first four months to October. As a result, it maintained guidance for continued underlying net profit and earnings per share growth in FY25.
Qube shares are up 0.3% to $3.94 in early trading on the ASX.
The context: Qube said growth is expected to be modest in the current fiscal after strong growth in FY24, on the basis of underlying net profit and earnings in the first half being slightly below the prior corresponding period.
The automotive segment performed slightly below expectation in the first four months, while containers, forestry, resources and energy were in-line with expectations, and agriculture “well-ahead”.
What they said: “The actual level of underlying earnings in FY25 will depend on a range of factors over the remainder of the period including market conditions, the industrial relations environment, interest rates, Qube’s ability to complete its planned asset sales and the completion of the MIRRAT acquisition,” it said.
The source: ASX announcement
