With a number of blue chip ASX companies releasing their financial results, it’s easy to look past the minnows of the ASX. Below are three companies that released material updates on Friday.

CTI Logistics Limited (ASX: CLX)

CTI is a Perth based transportation company that has been listed on the ASX since 1987. CTI employs over 1,000 staff and has a fleet of nearly 700 vehicles ranging from courier vans to road trains. The company also provides warehousing and security services to the Western Australian market.

On Friday, management released a trading update where it stated that it expects to record an underlying profit before tax of approximately $4 million for the 2019 financial year (FY19). In contrast the underlying profit before tax figure for FY18 came in at $6.1 million.

Revenue was up more than 15% to $211.9 million on the back of the company’s continued expansion into WA regional markets and the eastern states.

Commenting on the trading update, management stated, “the results have been impacted by the state of the economy, particularly in Western Australia, with significant reductions in activity and increased margin pressure across a wide range of clients, along with continued investment in growing our Western Australian regional freight operations and the previously reported impact of expansion costs in the operations in Melbourne, Sydney and Brisbane.”

Saferoads Holdings Limited (ASX: SRH)

Saferoads manufactures road safety products such as safety barriers, speed cushions and variable message boards which are used to keep us all safe on the road.

On Friday, Saferoads released its financial results for FY19 which was inline with the updated guidance provided by management in late May.

A 6.5% decline in revenue has meant that the company reported a small loss of $41,000 after tax. In contrast, the company reported a Net Profit After Tax of $710,000 in FY18.

The biggest opportunity for meaningful growth may come internationally where the company saw growth of 80% year on year, admittedly off a very low base.

Importantly, the company provided upbeat guidance for FY20 stating that it expects a return to profit and has $2.3 million of secured work in hand to start FY20.

Triton Minerals Ltd (ASX: TON)

Triton Minerals is a mining exploration and development company that is currently focused on graphite projects in the African country of Mozambique.

Like most mining exploration companies, its financial results were pretty bleak, recording a net loss of just over $1 million for the most recent half year.

Looking at the balance sheet, we can see that the company has chalked up more than $74 million of accumulated losses since listing on the ASX.

It’s highly likely that the only thing they’re digging is a deeper money pit for shareholders’ money.

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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).

At the time of publishing, Luke has no financial interest in any companies mentioned.