Ann: Half year FY24 Results Presentation, page-30

I think a significant issue is most transport companies have a high level of debt. For a small operator with a million dollar rig then debt can quickly become crippling. I'm fairly certain a fair proportion of Lindsay's trucks are leased vehicles but I don't know whether the lease agreements have a floating interest rate or not. One thing is certain and that is most if not all operators are in the same boat. Most economists agree that interest rates will fall but not for another 6 months or so. I don't see this as much of an issue and the diversification that Lindsay has through road/rail plus specialist areas such as horticulture should underpin steady growth. At worst a bit of a hiccup in the short term.