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Lindsay Australia reveals FY results

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Transport and logistics provider, Lindsay Australia, has reported its full-year result with a net profit after tax of $6.426 million, with a 1.4 per cent growth in its transport division revenue to $234.1 million.

According to Lindsay Australia, the transport division used ‘improved systems and processes to increase divisional profit 10.5 per cent to $25.15 million before tax.

“The severe weather events of 2017 caused freight imbalances as we moved products into regional areas but reduced produce out,” the company said in an ASX report.

“Challenges around freight imbalances and large customer changeovers are exoected to abate in 2018.

“We have now set the stage for future profitability and this is reflected in our first quarter’s results. First quarter’s profi is 60 per cent higher than last year. However, due to the seasonal nature of our business, the first half year is typically busier than the second half.

“However, if this first quarter is an indication of the year to come, and we believe it is, Lindsay is currently on track to improve last year’s result by around 20 per cent. We see 2017 as a year that experienced a number of challenges and internally we are focused on improving from our 2016 result of $8.072 [million].”

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