McAleese swings to FY loss

By Chris Kohler

McAleese has declined to give forward guidance until its annual general meeting in November as it swings to a significant loss in its first results since listing on the ASX in November last year.

In the 12 months to June 30, the logistics company posted a net loss attributable to owners of $63. 3 million, a significant decline on the $18. 9m profit recorded last financial year.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Late last year, two people were killed when a tanker from subsidiary Cootes Transport overturned and exploded in Mona Vale, Sydney.

The result was affected by significant items totalling $75. 8m, which related to a tanker crash in Sydney, a subsequent restructure of the oil and gas division, impairment charges for goodwill and equipment, and IPO costs.

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Read more here: Business Spectator

    

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