While 'Mr Market' may not like the impending retirement of...

While 'Mr Market' may not like the impending retirement of CEO/MD Mr Kim Lindsay, hopefully the experienced, refreshed in recent times BOD will find a suitable internal or external replacement.

The announcement's tone suggests that Mr Lindsay may after a suitable holiday return as a Director or 'consultant'.

The rural division's performance was reasonable given flooding and other disruptions, but it's a concern that headwinds remain quite significant.

However the intermodal transport offering has become an even larger in percentage terms part of the LAU entity, and it's highly profitable despite the competition from unrelated, unlisted Linfox and others such as Team Global Express.

Interesting that no further expansion of railable containers form the 403 the company has will occur in FY 24. Probably prudent as if Australia has a recession, hard to see LAU not being adversely affected even though much of what it transports (fresh fruit and vegetables a mainstay) is regarded as essential by Australians, not discretionary.

The 35.71 per cent rise in the interim dividend is terrific and above my admittedly conservative expectation.

LAU has also slightly reduced its borrowings.

It says trading conditions remain 'strong' which is a good sign, subject to the caveat above re the Labor recession that seems inevitable.