Fliway says first half earnings beat prospectus forecast on cost management

Thu, 28 Jan 2016

By Paul McBeth Jan. 29 (BusinessDesk) - Fliway Group says first half earnings beat prospectus forecasts as the freight and logistics company contained costs in the face of falling revenue. Pro-forma net profit was between $3.3 million and $3.5 million in the six months ended Dec. 31, beating the forecast $2.9 million in Fliways' March prospectus, the Auckland-based company said in a statement. The better-than-expected earnings helped cash flow stay ahead of forecast, which will lead to net debt being 20-to-30 percent lower than the $8.9...

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