Financial Performance and Dividend Declaration

Silk Logistics Holdings Limited (ASX: $SLH) has declared an interim dividend of 2.82 cents per ordinary share for the half-year ended 31 December 2023. The underlying net profit after tax for the same period was $7,644,000, reflecting a 21.8% decrease from the previous corresponding period.

Executive Commentary

The Group's financial performance for the half-year ended 31 December 2023 was impacted by costs associated with the acquisition of Secon Freight Logistics, discontinued site in Kemps Creek, NSW, and corporate restructure activities. Additionally, depreciation and amortisation on the fair value uplifts recognized from the provisional purchase price accounting on the acquisition of Secon Freight Logistics contributed to the decrease in underlying net profit after tax. The Board of Directors has declared an interim dividend of 2.82 cents per ordinary share, reflecting the Group's commitment to delivering value to its shareholders.

Summary and Outlook

Silk Logistics Holdings reported a 21.8% decrease in underlying net profit after tax for the half-year ended 31 December 2023, primarily attributed to costs associated with acquisition, discontinued site, and corporate restructure activities. The declaration of an interim dividend of 2.82 cents per ordinary share demonstrates the company's dedication to providing returns to its shareholders. The acquisition of Secon Freight Logistics has been a significant development for the Group, and the impact of this acquisition on the company's future performance will be closely monitored. Silk Logistics Holdings remains focused on optimizing its operational efficiency and delivering sustainable growth in the upcoming periods.