Archive, Industry News

Silk eyes sustained performance after ASX debut

'Port-to-door' specialist marks major company milestone

 

Silk Logistics Holdings Limited is the newest transport and logistics entity to list on the Australian Securities Exchange (ASX).

Its initial public offering (IPO) reached a market capitalisation of $151 million at the time of listing.

Silk described itself as providing three distinct services across two primary divisions:

  • Port Logistics Division, which provides wharf cartage services
  • Contract Logistics Division, which offers warehousing and distribution services.

It’s noted Silk’s long-standing blue-chip customer base spans several key industries, including fast-moving consumer goods (FMCG), light industrial, food, specialised retail, and containerised agriculture.

With revenue of $258.4 million in FY20, Silk expects to achieve its prospectus pro forma forecast earnings before interest and taxes (EBIT) of $17.8 million in FY21.

Silk’s FY22 prospectus EBIT forecast is $20.9 million.


How Silk bought Rocke Brothers in 2019, here


The company expects to deliver further growth by expanding its service and geographic offering to existing customers, and from new customer wins.

“Silk successfully blends its physical logistics capabilities, with a cutting-edge data analytics technology platform,” CEO and managing director Brendan Boyd, who founded the company with chief customer officer and executive director John Sood, said.

“We are capable of providing predictive insights and supply chain visibility from wharf to warehouse to last mile.

“We have designed our technology platform and service delivery model to ensure it can consistently exceed our customers’ requirements through configurable systems that allow them to fine-tune their supply chains and control costs.

“We look forward to continued growth and delivering sustained financial performance for our shareholders.”

Silk’s board also counts industrial and resources executive Terry Sinclair as chair and corporate advisory and law partner Stephen Moulton as a non-executive director.

 

Previous ArticleNext Article
  1. Australian Truck Radio Listen Live
Send this to a friend