Fliway lifts first-half profit 60%, beating forecast; shares jump to a record

Mon, 22 Feb 2016

By Fiona Rotherham Feb. 23 (BusinessDesk) - Fliway, the listed transport and logistics group, increased first-half profit 60 percent as a reduction in costs offset weaker revenue. The shares jumped to a record. The Auckland-based company said profit rose to $3.6 million in the six months ended Dec. 31, from $2.2 million in its pro forma financial results from the year earlier, to deliver a result that was 25 percent above the prospective financial information provided ahead of its April 2015 listing on the NZX. Revenue for the half slipp...

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