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CTI LOGISTICS LIMITED — Capital/Financing Update 2022
Nov 22, 2022
64663_rns_2022-11-22_5bef03e0-8134-43b4-b22f-99861dcae4c3.pdf
Capital/Financing Update
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ABN 69 008 778 925
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23 November 2022
Corporate Office 1 Drummond Place West Perth WA 6005 Postal Address PO Box 400 West Perth Western Australia 6872 T (08) 9422 1100 E [email protected] W www.ctilogistics.com
Company Announcements ASX
Via ASX Online
CTI LOGISTICS LIMITED – TRADING UPDATE
CTI Logistics Limited (CTI) advises that the profit before tax for the half year to 31 December 2022 is expected to exceed the profit before tax for the previous corresponding period by approximately 60%. The result has been driven by strong revenue growth from new and existing customers, as well as a strong focus on cost control.
Revenue to 31 October 2022 is up 18% on the previous corresponding period across both the transport and logistics segments. The revenue growth has continued to come from increased freight volumes and ongoing demand for premium freight services, driven by ongoing supply chain disruptions, increased competition for storage space to ensure product is closer to the point of sale and project work in both warehousing and transport.
In the context of increasing inflation and interest rates, along with wage cost pressure, forecasting the operating environment and outlook remains difficult, both short and long term, and we remain cautious that future trading volumes and activity could be impacted as a result.
The financial results for the half year to 31 December 2022 will be released to the market in February 2023.
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Owen Venter COMPANY SECRETARY
This announcement was authorised to be given to the ASX by the CTI Logistics Limited board.
ISO 9001:2015 certified (Quality) | ISO 14001:2015 certified (Environmental) | ISO 45001:2018 certified (Health & Safety)