Qube’s logistics and infrastructure business delivered a 37 per cent rise in earnings before interest and taxation (EBIT) to $145.6 million, while its ports and bulk operations lifted EBIT by almost 6 per cent to $137.2 million. Qube also took a $15 million hit to earnings from port congestion, the lockdowns in China (which disrupted shipping activity) and extreme weather, including the east coast’s heavy rainfall and floods.Ī 20 per cent drop in volumes of logs sent from New Zealand to China was due to a decline housing construction and the labour shortages associated with the COVID-19 lockdowns, while Australian log exports were hurt by Chinese trade embargoes, Qube said. The income offset higher expenses, including fuel and energy costs. Group income was boosted by a 16 per cent rise in revenues to $2.5 billion, fair value gains and the sale of Moorebank Logistics Park’s warehouse and property assets. The first six weeks of the new financial year had been “healthy”, Mr Digney said. The company’s shares jumped almost 7 per cent in afternoon (AEST) trading to $2.89 after it forecast growth in underlying earnings growth for 2023. It is also raising prices for its services by as much as 10 per cent. Qube is trying to be more productive and help its customers make supply chains more efficient to reduce costs. Patrick’s market share of the national container ports market dropped to 42 per cent from 44 per cent a year earlier due to industrial action, vessel scheduling issues and the loss of a shipping service to rival DP World. Qube said increases in the infrastructure fees charged to users of ports had helped offset costs. But the container port group still contributed some $40 million to Qube’s profits, up from $27.7 million on a year earlier. Patrick’s volumes were about 2 per cent down on a year earlier in the 12 months to June. no one is tightening their purse strings just yet.” Patrick container ports, which is half-owned by Qube, had not yet experienced a significant slowdown in imports of container goods despite the surge in global inflation, Mr Digney said. The company expects agricultural and energy exports to remain solid. “Sometimes we get the benefit of bottlenecks.” While congestion at ports had slowed down the movement of some goods in and out of Australia, customers still needed to use port infrastructure, including Qube’s storage facilities, the CEO said. “We’ve built a really robust business model, Mr Digney told The Australian Financial Review. Qube CEO Paul Digney says the company’s diversification has helped it weather the COVID-19 pandemic. Hosted by 44 Bytes.Qube chief executive Paul Digney says the logistics group’s ability to handle everything from grains to steel and pass on rising costs to customers enabled it to boost profits 39 per cent to $127.5 million despite the global supply chain crunch. © 2022 Hookshot Media, partner of ReedPop. Join 400,961 people following Push Square: SD Gundam Battle Alliance: All Mobile Suits and How to Un. MultiVersus Guide: All Characters, Tier List, and How to. New PS5, PS4 Games This Week (12th September to 18th Sept.Īssassin's Creed Mirage Is Not Adults Only, Ubisoft Confi. PS5 Stock: Where to Buy PlayStation 5 and When in Septemb. Can you afford to let that amount of cubes roll over the edge without costing a crucial row? It’s all about making quick calculations in your head, because if you throw caution to the wind you’ll probably end up losing. The gameplay constantly revolves around numbers, not just in terms of scoring but even while you’re playing it. There’s no celebration of your accomplishments, just a suggestion that it’s possible to do better. Whether you win or lose, everyone gets the same result: a total score and an IQ rating suggesting how efficient you were at capturing cubes. Sure, you might be given a new character to use, but there’s never really a definitive end to Intelligent Qube. This only takes about two hours, but that’s providing that you finish every level first-time, something that’s pretty much guaranteed not to happen.Īnd even if you do finish the campaign, there’s no real recognition or reward of your achievement besides your own satisfaction. There’s no saving between levels, so if you want to complete the game without starting over, you’ll have to play the entire set of levels in one go. Of course, being a PS1 game, Intelligent Qube is harsh.
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