Australian-based Automotive Holdings Group (AHG), which also owns a number of car dealerships in New Zealand, has reported a record half-year profit with its Australian refrigerated logistics division delivering record revenue of AUD $319.1 million for the half‐year, 51.9% up on the previous corresponding period.
According to Trailer Magazine, AHG managing director, Bronte Howson says the results reflected a strong performance driven by the integration of the Group’s recent acquisitions and continued growth.
“It is a great result in a sometimes challenging market, across both automotive and logistics,” he says.
“The refrigerated logistics result reflects the combination of the underlying Rand/Harris business and the acquisition of Scott’s and JAT.”
AHG’s first half results across all its businesses reported that net profit was up 17.4% to AUD $45 million compared with the previous first half, reflecting record group revenues of AUD $2.57 billion, an increase of 10.6%.
AHG’s logistics businesses operate throughout Australia via subsidiaries Rand Transport, Harris Refrigerated Transport, Scott’s Refrigerated Freightways and JAT Refrigerated Road Services.
The company also operates AMCAP and Covs (motor parts and industrial supplies distribution), VSE (vehicle storage and engineering), Genuine Truck Bodies , WMC (bus and truck importation and distribution), and KTM Sport motorcycles and HQVA (KTM and Husqvarna motorcycle importation and distribution in Australia and New Zealand).
