2023 Results


  • Revenue grew by 9.3% to $1,417.8m reflecting strong growth in the Marine & Tourism business and resilience of the contracted and non-discretionary components, which now represent 92% of total revenues;
  • Underlying EBIT (adjusted for one-off costs associated with M&A) grew by 5.5% to $84.5m despite inflationary environment and increased costs due to impacts of labour shortages;
  • Contract indexation mechanisms effectively hedge inflation for the majority of urban bus businesses;
  • Cost base pressures are temporary and either well hedged or can be passed on to end customers;
  • Underlying Net Profit After Tax and before Amortisation (‘NPATA’) (adjusted for one-off costs associated with M&A), increased by 4.3% to $70.0m;
  • Statutory Net Profit After Tax (‘NPAT’) was $21.0m for the twelve-month period ended 30 June 2023 compared to $52.9m in FY22;
  • Strong balance sheet and cash flow generation supported several acquisitions during FY23;
  • Final dividend of 9.5 cents per share bringing the full year dividend to 17.0 cents per share, (compared to 16.5 cents per share in FY22).

Half Year