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Covid proves to be a handbrake for Freightways

Brent Melville
Thu, 28 Oct 2021

Covid proves to be a handbrake for Freightways
NZ lockdowns had biggest impact. (Image: Supplied)
Brent Melville
Thu, 28 Oct 2021
Freightways started the new financial year on a subdued note, with first-quarter net profit after tax down 5.7% to $18.1 million – $1.1m less than the comparable three months in 2020.  Revenue was down 4.1% for the three months to September to $203.1m. However, both figures were influenced by there being one less week in the accounting period, which reduced sales in the quarter by about $12.4m.Lockdowns in August were a major part of a $7m reduction in earnings before interest, tax and amortisation (Ebita) for the listed courier and...

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