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Infrastructure

Freightways bumps final Big Chill payment to $51m

Brent Melville
Mon, 23 Aug 2021

A chilled business, but will cost Freightways more. (Image: Supplied)
Brent Melville
Mon, 23 Aug 2021
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Freightways has increased its provision for the final purchase instalment on Big Chill by $24 million due to stronger than expected performance by the temperature controlled logistics company.Big Chill has already helped Freightways to a 4.8% improvement in net profit to $49.6 million for the 12 months to June 30, with inroads into market share.The trans-Tasman express package firm posted a 22% increase in earnings before interest, tax and amortisation (ebita) to $72.7m from record revenues of $800.5m, up 27% on last year’s $631m.The fair...

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