You beat me to the punch, as I also thought that statement on...

You beat me to the punch, as I also thought that statement on page 19 was key. Watch this space is what the Directors are suggesting.

SH will enjoy page 17 where the company reiterates that it's 'committed to SH returns' and that it'll begin (again) paying tax in FY24, so hopefully if it's managed well, NPAT will allow the payment of fully franked dividends in time.

Victoria is pretty dry but a fair amount of NSW has just enjoyed some autumnal rains while southeast Queensland has had a massive dump over the weekend. The latter will presumably adversely affect vegetable and perhaps fruit production in the short term - LAU uses the word 'challenging' re its rural division - but as I'm down in Melbourne I've not seen any media analysis.

While I am not an 'alarmist global warmer', the ESG obsessives will note that LAU's increasing use of rail freight produces significantly less emissions than road freight.

The statistics LAU provides such as 308 prime movers are good as it hadn't previously explicitly stated same. I still don't know the median age of the road fleet.

Many railable containers were purchased secondhand but LAU appears to have refurbished them before adding its livery, so they should last for quite a few years if looked after.

Very pleasing to see profit guidance reaffirmed. Because LAU has SOL and BKI (Robert Millner companies - he's a great gent) as almost 25 per cent owners in total, it's possible LAU likes to understate, so while too early to know, there must be a reasonable chance of it exceeding what may be a conservative guideline.