Sugar Terminals Limited (NSX:SUG) today announced a 1.8% improvement in net profit after tax, up from $26.7 million in FY20 to $27.1 million in FY21.
Sugar Terminals Limited
Sugar Terminals Limited (NSX:SUG) (STL) owns and operates six bulk commodity terminals in Queensland and plays a vital role in Australia's sugar market, handling over 90% of the raw sugar produced in Australia each year. STL's terminals provide 2.5 million tonnes of storage capacity and handle more than 4.6 million tonnes of commodities each year. In addition to around 4 million tonnes of bulk sugar, STL also handles more than half a million tonnes of other commodities annually, including molasses, wood pellets, gypsum and silica sands. STL has over $350 million in assets in strategic port locations across Queensland. We have in place 100 year leases with the port authorities at each of our six terminals. These leases include rolling options to extend for a further 100 year period.
Sugar Terminals Limited (NSX:SUG) has today announced that the current raw sugar Storage and Handling Agreements with all STL customers will expire on 30 June 2022.
Sugar Terminals Limited (NSX:SUG) has commenced the $22 million roof replacement program at its Townsville Bulk Sugar Terminal with BESIX Watpac onsite and work well underway.
Sugar Terminals Limited (NSX:SUG) today announced a Net Profit after Tax of $13.6 million for the half year to 31 December 2020 (H1), a 1.9% improvement on H1 FY20 and in line with expectations.
Sugar Terminals Limited (NSX:SUG) today announced a 2.3% underlying improvement in net profit after tax (with a headline increase of 0.2%), after allowing for the one-off sale of a minor portion of land and buildings in 2019.
Sugar Terminals Limited (NSX:SUG) has today appointed David Quinn to assume the role of Chief Executive Officer (CEO) in October 2020, following the retirement of current CEO John Warda.
Sugar Terminals Limited (NSX:SUG) has today announced an extension of storage and handling agreements with all of its raw sugar marketing customers through to 30 June 2022.
Sugar Terminals Limited (NSX:SUG) is working with Mackay-based firm V2R Projects to deliver a $12 million facelift for one of the giant sheds at Mackay sugar terminal. V2R Projects is part of the Queensland Construction Alliance group of companies.