Sea change for Lindsay results

Charter customers bring non-traditional cargo as volumes increase out of Queensland and fuel levy kicks in

February 26, 2013

Revenues and profits rose strongly in the first half for transport and rural products firm Lindsay Australia, with trucking shouldering the major load.

Total profit attributable to shareholders was $5.2 million, up from $3.2 million in the previous first half.

The company’s transport division gained $13.7 million including retrospective fuel tax credits of $3.6 million, up from $9.2 million for the previous first quarter.

Freight cartage and hire revenue rose more than $10 million to $98 million.

This was put down to higher volumes, new customers in Queensland and New South Wales and a small rise in fuel levies.

"In October, the group obtained a number of customers from Charter Refrigerated Transport who ceased business," the company states.

"Charter’s customers were mainly horticultural producers in NSW and seafood producers from Cairns to mid-coast NSW.

"This has provided diversification for the transport division as the group had not previously carried large volumes of seafood."

Reflecting that and other demand increases in November and December, the cost of permanent and casual subcontractors rose to $19.8 million from $16.8 million, "however the margin on subcontractors reduced".

"Additional staff were added for the work taken over from Charter and to support revenue growth and additional line haul drivers employed," the firm states.

Fleet numbers also rose by eight prime movers and 10 B-double trailer sets.

The repair and maintenance bill jumped to $6.8 million from $5 million as vehicles added during fleet expansions in 2010 and 2011 began to show their age.

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