"STL's strong performance in FY23 is the result of a consistent and carefully considered strategy aimed at delivering sustainable, globally competitive storage and handling solutions that continue to benefit our customers and shareholders over the long term. The Board is very conscious of the vital role STL plays in the
Key results
- Received and outloaded 7.2 million tonnes of raw sugar for the year
- Increased total revenue by 3.8%, while total operating costs increased by only 3.5%, well below the rate of inflation
- Maintained a clear focus on cost control in a high inflationary environment, despite historically high world sugar prices, whilst continuing to deliver on our customers service expectations
- Increased dividends paid to shareholders by 4.1% to
- Increased return on total assets slightly from 7.4% to 7.7%
- Completed the
- Commenced procurement of the replacement 12km conveyer belt for the
- STL continued to project manage the construction and delivery of the common user infrastructure at the
Commentary
"Through STL's diligence, multi-year work programs have been delivered on time and on budget without the need for debt financing. As the custodian of industry assets, STL continues to improve long term capital planning processes to deliver better performance of these assets. This prudent and active management by STL has also delivered high quality services for our customers and enabled stable and consistent returns for our shareholders," he said.
"Financially, STL produced another solid performance in FY23 on the back of a challenging and prolonged crushing season, strong global sugar pricing and significant input cost pressures. We remain acutely conscious of the need to ensure an equitable balance between competitive costs for customers and reasonable returns for shareholders. In addition, we place a high priority on improving asset utilisation and extending the working life of the terminal facilities through prudent and well-planned investments."
Dividend announcement
At its Board meeting, Directors resolved that a dividend of
To view the Annual Report, please visit: https://www.abnnewswire.net/lnk/SP163EEC
About
STL's terminals provide 2.5 million tonnes of storage capacity and handle more than 4.6 million tonnes of commodities each year. In addition to around 4 million tonnes of bulk sugar, STL also handles more than half a million tonnes of other commodities annually, including molasses, wood pellets, gypsum and silica sands.
STL has over
Contact:
Chief Financial Officer
T: +61-7-3221-7017
Copyright (C) 2023 ABN Newswire. All rights reserved., source