Lindsay Australia to grow despite recession

Queensland-based Lindsay Australia expects massive rise in profits of over 50 percent at the end of financial year

By Michael House

Queensland trucking, logistics and supply chain operator Lindsay Australia has announced it expects a massive rise in profits of over 50 percent at the end of the financial year.

The company has projected a full year consolidated after tax profit of between $3.6 million and $4.1 million, thumbing its nose at the global financial crisis.

Despite sections of the industry experiencing a credit shortage and a fall in growth, Lindsay expects to build upon its $2 million profit announced for the same period last year.

Lindsay Chief Financial Officer Graham Johnston says while it is difficult to forecast such a prediction given the global financial crisis, it is based on the businesses trends over the last nine months.

"Trading conditions for both transport and rural remain difficult and the current worldwide financial crisis has increased volatility and uncertainty in the business environment," Johnston says.

"Based on the unaudited result achieved for the nine months ended 31 March and the result achieved in the last quarter of the 2008 financial year, our full year consolidated after tax profit will be in the range $3.6 million to $4.1 million".

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