Silk Logistics Holdings has announced its half year results for the period ending 29 December 2024.
The company delivered a revenue of $287.9 million which was underpinned by $31.0 million in annualised new business wins and contributions from the company’s expanding bulk logistics offering.
This was a 4.1 per cent increase on the prior corresponding period.
Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) was reported at $47.9 million, an increase of 0.4 per cent year-on-year (YOY).
Earnings before interest and taxes (EBIT) were $15.6 million, a decrease of 14.3 per cent YOY.
Non-recurring items totalling $1.8 million reportedly impacted the EBITDA and EBIT figures.
Silk Logistics Managing Director and CEO, John Sood, commented on the business’ performance during the first half of of financial year 2025.
“This half we continued to focus on further integrating the Secon business, where we see significant demand and an opportunity to capture greater market share of the bulk containerised market,” he said.
“We observed improving external conditions in certain segments of the business, specifically a stabilisation in transition from ‘just in case’ to ‘just in time’, which resulted in improving occupancy levels throughout the half, when excluding Kenwick 2 in Western Australia (K2), and stable volumes through the Port Logistics business.”
The business also demonstrated its expertise in delivering on customer requirements despite external headwinds persisting.
“Underlying EBIT was impacted by one-off costs, however the strength of Silk’s business model and disciplined approach to operations was reflected via relatively stable underlying margins,” Sood said.
“A core focus of 1H FY25 was organic growth, as we continue to prioritise our customer-centric approach in all our work and this strong customer service ethos was rewarded with the majority of revenue generated from existing customers.”
In other news, Victorian trailer builder, Barker Trailers, has appointed an interim CEO, effective 17 February 2025.
The post Silk Logistics sees growth in 1H FY25 results appeared first on Trailer Magazine.