Qube Expects to Generate Up to AU$250 Million in Asset Sales

MT Newswires Live

Nov 11, 2024

Qube Holdings (ASX:QUB) is expected to generate AU$180 million to AU$250 million in gross proceeds from the sale of its assets, according to a Monday filing with the Australian bourse.

Most of the proceeds are expected to be realized in late fiscal 2025 to early fiscal 2026 and will be initially used to pay debt, the filing said.

The logistics firm is currently in the process of selling a freehold property in New South Wales and is advancing the potential sale of other assets, the filing added. It is not, however, in talks to sell its interest in the MLP Interstate Rail Terminal.

Qube expects to achieve "modest" net profit growth in fiscal 2025 relative to fiscal 2024 amid higher interest costs, as per the filing.

Price (AUD): $3.83, Change: $+0.02, Percent Change: +0.52%

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