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Steamships Trading Company Limited (ASX:SST)

ALERT: Price-sensitive ASX Announcement for SST
Current share price for SST : $9.000 -0.55 (-5.76%)+
Announcement
Release
28 Aug 2026 3:16PM
Price at Release
$9.550
Full Release
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Summary
Steamships Trading Company Limited’s Appendix 4D half yearly results for the six months ended 30 June 2026 reported revenue from ordinary operations of K413.4 million, up 14.3% on the prior corresponding period, while profit after tax was K23.6 million and profit attributable to members was K21.8 million, down 10.2% and 12.2% respectively, largely reflecting significant items including K6.8 million of ERP upgrade cash spend, partly offset by K1.1 million of insurance proceeds and a K0.4 million gain on asset disposals; underlying profit attributable to shareholders increased 27.2% to K25.5 million, with management noting all divisions performed in line with expectations, including steady Hospitality and Property results, growth in Logistics supported by improved marine reliability, and resilient contributions from Colgate-Palmolive (PNG) despite foreign exchange pressure. Operating cash flow improved to K115.8 million, capital expenditure rose to K164.0 million, cash at bank was K28.0 million at period end, net assets were K1.137 billion, and an interim dividend of 35 toea per security was proposed subject to Board approval, while the outlook for the second half remained cautiously optimistic due to ongoing product and service upgrades and stronger business sentiment linked to increased resource sector activity; the interim financial information was reviewed by PricewaterhouseCoopers, which concluded nothing had come to its attention indicating non-compliance with IAS 34.
Key Points
  • Half year ended 30 June 2026 for Steamships Trading Company Limited.
  • Revenue from ordinary operations increased 14.3% to K413.373 million.
  • Profit after tax was K23.591 million, down 10.2% from the prior corresponding period.
  • Profit attributable to members was K21.809 million, down 12.2%.
  • Underlying profit attributable to shareholders increased 27.2% to K25.457 million.
  • Significant items included K6.8 million of ERP implementation cash spend, K1.1 million insurance proceeds and K0.4 million net gain on property disposals.
  • Hospitality, Property and Logistics divisions all performed in line with management expectations.
  • Logistics reported growth on the prior year supported by improved reliability in the Marine business.
  • Net operating cash flow increased to K115.763 million from K69.301 million.
  • Capital expenditure increased to K163.957 million.
  • Cash and cash equivalents at 30 June 2026 were K28.001 million.
  • Net assets at 30 June 2026 were K1.136645 billion.
  • Basic and diluted earnings per security were 70.3 toea.
  • An interim dividend of 35 toea per security was proposed, subject to Board approval.
  • PricewaterhouseCoopers reviewed the interim financial information and reported no matters indicating it was not prepared in accordance with IAS 34.
  • The review report was dated 28 August 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.