Lindsay Australia is tracking well as it ticks over the first half of the current financial year
Australian transport and logistics supply company Lindsay Australia has announced its financial results for the first half of the 2023 financial year, reporting uplifts in revenue, profit and dividends.
Lindsay Australia’ half-year revenues of $337.4 million increased $63.5 million (up by 23.2 per cent) compared to the prior comparable period, leading to the growth of 36.2 per cent in underlying earnings before interest, tax, depreciation and amortisation to $42.8 million.
The strong revenue growth and favourable market conditions also boosted underlying profit before tax by $9.7 million, or 64.5 per cent from the first half of the 2022 financial year.
The company’s robust financial results have enabled the board to declare an interim unfranked dividend of 1.9 cents per ordinary share.
Lindsay says it ended the first half of this financial year with $36 million in cash driven by improved operating cash conversion and earnings, positioning the company to continue to expand and deliver on its growth objectives.
Lindsay Australia says it remains committed to its status as a leading essential services provider and a critical link within Australia’s food and agriculture sectors, delivering long-term value for its people, customers, community and shareholders.
It says safety remains its first priority as it strives to deliver best-in-class service to its customers. The performance of all divisions surpassed prior year’s results, demonstrating the successful execution of Lindsay’s strategic goals and the resilience of its integrated and diversified business model.
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“The group continues to deliver strong year-on-year growth despite headwinds from unfavourable weather, labour shortages and cost pressures,” Lindsay Australia CEO Kim Lindsay says.
“This highlights the successful implementation of Lindsay’s strategic objectives, the robustness of the group’s integrated and diverse business model and the dedication of our employees.
“Demand remains strong in transport, but we expect some softening of demand in the rural segment in second half of the financial year due to unfavourable weather. We are positioned well to continue to grow through greenfield expansions and strategic acquisitions in both the transport and rural sides of the business.”