FLY-IN FLY-OUT PROFITS SOAR ON NEW CONTRACTS

Written on the 23 August 2012

FLY-IN FLY-OUT PROFITS SOAR ON NEW CONTRACTS

A FLURRY of new contracts and growth in the mining sector has produced favourable conditions for fly-in fly-out (FIFO) transport operators.

ASX-listed Alliance Aviation Services (AQZ) has reported a 43 per cent jump in net profit after tax to $19.1 million for the 2012 financial year. The result was 6 per cent higher than forecast during AQZ’s initial public offering last year.

Managing director Scott McMillan (pictured) credits strong charter and wet-leasing performance for the positive outcome.

“The 2012 year has been one of transformation and delivery for the group,” he says.

Revenue was up 44 per cent to $184.2 million and on-time performance was an above-industry-average 92 per cent for FY12.

The Australian Mines and Metals Association (AMMA) suggests AQZ’s growth reflects “flow-on effects” of increased mining, gas and construction activity.

“Many Brisbane-based companies are benefiting from increased investment in Queensland’s resources industry, from engineering firms like Ausenco and Cardno to various transport and logistics providers,” says industry executive director Minna Knight.

“Like Alliance, Greyhound is another transport provider with a Brisbane office that is doing very well.”

AMMA agrees with Federal Government predictions that each job created in the resources sector indirectly gives birth to an additional two to three positions.

“More than 40,000 new jobs for Queenslanders will be created from this activity between now and 2016, so it is a very exciting time not only for Brisbane businesses but also workers in both blue and white collar roles,” says Knight.


Latest News

APOLLO REVS UP ITS RESULTS

APOLLO Tourism & Leisure (ASX: ATL) has hit its profit forecast in its maiden result as a publicly traded company...

JASMINE YARBROUGH AND TAMIE INGHAM TAKE MARA & MINE TO HOLLYWOOD

MARA & MINE entrepreneurs Jasmine Yarbrough and Tamie Ingham (pictured left and right respectively) slipped in...

HUGE PROFIT SPIKE FOR HELLOWORLD HEALS MERGER WOUNDS

HELLOWORLD (ASX: HLO) gripped the share market this morning after its announcement of a whopping 880 per cent increas...

PROFIT DROP AT SERVCORP

SERVICED office company Servcorp has seen its profit fall, citing New York City, Singapore and Saudi Arabia as the pr...

Related News

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

TEST DRIVE A POST GRAD AT BOND

THERE'S only one way to really move your career into the fast lane, says Bond University, and 'test driving...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter