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Highlights
- Lindsay Australia is an ASX-listed transportation firm that provides integrated transport, logistics and rural supply services
- In FY23, the company delivered 20.3% YoY surge in operating revenue to AUD 676.2 million
- Washington H Soul Pattinson and Company has the maximum stake in LAU with a shareholding of nearly 17.04%
Lindsay Australia Limited (ASX:LAU) is an Australia-based firm that offers integrated transport, logistics and rural supply services. The operations of the company include transporting refrigerated and general freight, supplying rural goods and offering logistics services related to import and export of horticultural products.
In the financial year 2023 (FY23), the company reported a 20.3% YoY increase in operating revenue to AUD 676.2 million, backed by an increase in transport freight services segment revenue. During the stated period, EBITDA increased by 39.2% YoY to AUD 101.2 million and profit after tax reached AUD 34.5 million, supported by topline growth.
Growth in overseas students in 2023 bodes well with transportation sector
Data released by the Australian Bureau of Statistics (ABS) shows that total school enrollment in 2023 hit record high of 4,086,998 across 9,629 schools in Australia. It reflects a 1.1% increase since 2022.
Full-fee-paying overseas student increased by 21,124 students annually in 2023. . Due to COVID-19 pandemic, a drop of 41.9% was seen between 2019-22.
Top 10 shareholders of LAU
The top 10 shareholders of LAU have around 45.13% shareholding in the company. The top two shareholders of LAU are Washington H Soul Pattinson and Company and Private Portfolio Managers Pty Ltd, with a shareholding of 17.04% and 6.13%, respectively.
Recent business update
Through a recent ASX-filing, the company informed that on 26 February 2024, it would release its financial results for the half-year ended 31 December 2023.
Outlook
The company said positive developments from FY23 were continuing in FY24 as well. The focus of LAU is on increasing operating efficiencies, reducing expenses and finding a path to grow sustainably via greenfield ventures, transformative projects or further value-addition acquisitions.
Share performance of LAU
LAU shares closed 0.46% down at AUD 1.085 apiece on 19 February 2024. Including this, LAU’s share price has surged by almost 56% in the past one year and has dropped by nearly 20.80% in the last nine months.
The 52-week high of LAU is AUD 1.425, recorded on 18 May 2023, while the 52-week low is AUD 0.66, recorded on 21 February 2023.
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 19 February 2024. The reference data in this report has been partly sourced from EODHD/Others.
Disclaimer
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