Lindsay Australia has announced a 54 percent increase in profit, due mainly to the progress of its North Queensland expansion
February 19, 2010
Lindsay Australia have continued to defy the global economic downturn by again posting a massive half year profit accredited mainly to its commitment to carting essentials such as food.
In a statement released to the Australian Stock Exchange (ASX) the company says it posted a profit of $3.7 million a 54 percent increase on the $2.4 million in posted at the same time in 2009.
However Lindsay’s overall revenue was down 1.1 percent put down mainly to the decision made not to pursue sales in some high value, low margin products in its Rural division.
The future appears to be bright for the Brisbane based operator with confidence remaining high amongst the company’s directors mainly thanks to the progress of expansion in North Queensland.
“We are excited about the potential for North Queensland and we have had considerable success in obtaining new customers,” company secretary Graham Johnston says.