Qube Confirms Guidance at AGM; No Change to FVE
Narrow-moat Qube reiterated guidance for earnings growth in fiscal 2018 at its annual general meeting. Not much has changed since original guidance was given in August, though management mentioned the poor grain harvest is hurting the logistics performance, while strong volumes for forestry products, cars, and mining equipment are aiding the other divisions. Key markets remain highly competitive, with ongoing pressure on rates. We remain comfortable with our earnings forecasts and AUD 2.60 fair ...Qube Holdings is engaged in providing logistics solutions across multiple aspects of the import-export supply chain. Co. is also involved in the management and development of properties. Co.'s segments include: logistics, which provides a range of services relating to the import and export of containerized cargo; ports & bulk division, which provides a range of logistics services relating to the import and export of mainly non-containerized freight, with focus on automotive, bulk and break bulk products; and strategic assets which include, among others, its 66.7% interest in the Moorebank Industrial Property Trust; a 37.5% interest in the Quattro Grain joint venture.
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