Freightways' margins squeezed by higher fuel prices and rising labour costs

Freightways had revenue of $237 million in the first quarter. (Image: Freightways)

Thu, 27 Oct 2022

Higher fuel prices and increasing labour costs have squeezed Freightways’ margins in the first three months of the financial year.The listed transport company, which specialises in courier mailing, is holding its annual meeting in Auckland today. It provided a trading update showing its revenue for the first three months of the 2023 financial year was $237 million, up nearly 17% on the same period last year, with a net profit of $19.3m.Operating revenue had increased 15.1% compared to the first quarter of the 2022 financial year, to $184....

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