Lynch Group (ASX: LGL) expects Australian market to drive revenue growth in FY24

Mon 11 Mar 24, 07:26 AM | Team Kalkine

Image source: © Lovelyday12 | Megapixl.com

Highlights

Lynch Group is a grower and wholesaler of flowers and potted plants in Australian and Chinese floral market

In 1HFY24, the company registered 54% YoY increase in NPATA to AUD 2.2 million

Expected range of group EBITDA is AUD 40-43 million in FY24

Lynch Group Holdings Limited (ASX: LGL) is an Australia-based vertically integrated grower and wholesaler of flowers and potted plants. The company operates across China and Australian floral markets.

In the first half of financial year 2024 (1HFY24), the company recorded 3.4% YoY increase in its revenue to AUD 186.6 million, driven by sustained demand in Australian retail channel. However, this was partially offset by higher prices in Chinese market.

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