Earnings improvement in Lindsay trading update


Good outweighs the bad for the company in ‘post-Covid’ market

Earnings improvement in Lindsay trading update
A new year also brings a new branding

 

Integrated transport, logistics and rural supply firm Lindsay Australia ushers in the new year with an optimistic first-half trading update.

It announces that, based on unaudited management accounts for the half year ended December 31, 2020, it anticipates underlying EBITDA [earnings before interest, taxes, depreciation, and amortisation] between $26 to $27 million – or growth of about 12 per cent.

The group previously announced it was expecting to maintain EBITDA growth of 8 per cent for the half-year.

It credits gains in new business avenues as outstripping deficits in underperforming segments due to Covid-19 impacts.


How Lindsay's rail and rural focus kept it on track last year, here


"Investment in previous years to diversify the Group's geographical and product reach has seen improvements in both Rural and Rail which has offset the declines in the import/export logistics segment which continues to be impacted by COVID," it notes.

It marks happier news for the firm after revealing late last year that it was subject to National Heavy Vehicle Regulator (NHVR) court action after a 2018 truck driver fatality.

 

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