Freightways profit to increase 6 percent in 2013 and 2014, lagging expectations; shares drop

Wed, 03 Jul 2013

By Tina Morrison July 4 (BusinessDesk) – Freightways, the courier and data management company, said profit before one-time items rose 6 percent in 2013 and similar profit growth is expected in 2014, lagging analyst estimates of 10 percent growth in the coming year. The shares fell 2.9 percent to a one-month low. “The expected performance is consistent with Freightways most recent outlook comments that it expects to be operating in a positive but slow growth environment for the foreseeable future,” the Auckland-based company said in a statemen...

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