H1 FY24 Financial Results

H1 fy24 financial results

“The Group delivered solid half year FY24 sales and underlying EBITDA1 growth. Initiatives to grow EBITDA1 % to Sales to 10% in the medium term delivered positive improvement. These buy-side and sell-side initiatives were implemented early in the financial year. The run-rate from these initiatives continued to improve in the second quarter with Q2 EBITDA1 up +28.9% on the pcp.

Demand remains robust in our primary end markets in Australia (mining and resources, infrastructure, commercial construction and industrial). The New Zealand economy has weakened due to the recessionary environment and this is having a short term negative impact on New Zealand operations,but, as a small and dynamic economy, we expect it will bounce back strongly. Overall, our strategy based on specialisation and service excellence is continuing to be resilient.”