Freightways takes 5.8% hit to net profit, hopes 'worst' of economic conditions have passed

Freightways has four main focus areas, including brands like NZ Couriers in its express package and business mail division. (Image: Freightways)

Oliver Lewis

Mon, 19 Aug 2024

Logistics and courier company Freightways has recorded a 5.8% decrease in net profit after weathering what its leaders believe to be the worst of the economic cycle in New Zealand and Australia.Freightways announced its 2024 results to the NZX on Monday. It reported net profit after tax (Npat) of $70.9 million, a reduction from its 2023 result that the company said was largely due to higher interest expenses. Earnings before interest, depreciation, tax, and amortisation (ebitda) were $229.1m, up 6.6% from 2023.Like other companies, Freight...

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