Fliway warns revenue likely to miss prospectus forecast for second time

Fri, 23 Oct 2015

By Fiona Rotherham Oct. 23 (BusinessDesk) - Fliway, the listed transport and logistics group that listed in April, has reaffirmed prospectus earnings guidance but warned it’s likely to undershoot on revenue for the second time. At today’s annual general meeting in Auckland, chief executive Duncan Hawkesby, said revenue was likely to be softer than the forecast $85.6 million for calendar 2015, mainly because of depressed import and export ocean freight rates as a result of overcapacity, and adverse fuel hedging. Fliway works to a June 30 b...

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