Qube lifts profits as growth continues

The news: Logistics services provider Qube has enjoyed a 4.5% share price uptick after netting an extra 21.1% in profits this year.

The numbers: Qube posted a statutory net profit after tax of $224.8 million, up from $273m in FY22. Revenue lifted 16.2% to $3 billion, and earnings per share jumped 28.3% to 13.6 cents per share. Qube declared a full-year dividend of 8.1 cents, a 15.7% improvement on last year's effort. Qube shares were trading 4.3% at $2.91 just before 3pm AEST.

The context: Qube managing director Paul Digney said the result was outstanding, given the backdrop of high inflation, rising costs, skilled labour shortages and extreme weather events. Qube broadened its geographical horizons during the financial year, acquiring bulk commodities transporter Kalari and a 50% stake in NZ logistics group Pinnacle.