McAleese earnings in the slow-lane

Company News

McAleese Limited (ASX:MCS) has revised down its revenue by $9 million and its earnings before interest, tax depreciation and amortisation by $7 million.
 
The transport and logistics provider has blamed the fall in revenue on lower than expected fleet availability due to vehicle inspections restricting access to trucks for the Cootes Transport business, rising maintenance costs in the resources division and a decline in demand its specialised and lifting division.
 
CEO Mark Rowsthorn says they are addressing performance issues through ramping up resources for bulk haulage, through the sale of non-core assets and through cooperation with regulators to address stoppages due to vehicle checks.
 
McAleese made a net loss of $37.9 million in the first half of the 2014 financial year.