Logistics group Qube Holdings has delivered a 2.8c per share dividend at the half-year mark, after recording a 36 per cent increase in its interim net profit to $61.5 million.
The company said on Thursday it was happy to present a “solid” financial performance in the six months to December 31, 2018, with a 5 per cent rise in revenue.
Underlying EBITDA was up 20 per cent to $93.6 million.
Managing director Maurice James called the numbers “solid”.
“Qube was able to deliver very strong earnings growth despite challenges in some parts of the business, including declining motor vehicle volumes and the ongoing effect of the drought,” James said.
Qube’s 50 per cent stake in container stevedore Patrick delivered it $15 million in net profit, up 15 per cent, off the back of higher container volumes and an increased market share.
The company said it expects the economic and operating environment in the second half of FY19 to be similar to the first, but for overall net profit in the second half to be slightly lower than the high growth seen in the first.