QR National to restructure after it record profits despite supply chain disruptions

Australian coal freight operator QR National has emerged shaken but unscathed by this year’s natural disasters in Queensland to announce a 56 percent jump in profit to $350 million and a restructure.

In its first full year profit result since listing, the QR National reported an underlying EBIT of $367 million up 35 per cent compared to FY10 and a statutory EBIT of $205 million compared to a loss last year of $72 million.

Managing Director & CEO Lance Hockridge says the increase in earnings is a solid outcome for QR National given the impact of Queensland’s floods on haulage volumes.

“The floods impacted heavily on Queensland coal production and many of our customers have experienced slower than expected recovery of coal supplies,” Hockridge says.

QR national Chief Procurement Officer, Mario Adamo, will be a keynote speaker at the 7th CIPSA Annual Conference, to be held at Crown Palladium on the 12th and 13th of October, 2011.

Mario will present a case study on the procurement challenge facing Queensland Rail, which will cover:
• Meeting stakeholder expectations post IPO: public service to functional excellence
• The 3C's of risk converting from public sector to listed company - culture, cash, capability
• Building entire capability to deliver sustainable TCO outcomes

See here for more details on the Annual Conference.

Read more here.