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

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
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...

More Markets

Your mid-year investment health check
Markets

Simon Robertson: Your mid-year investment health check

What should you really be looking for from your fundie? 

Simon Robertson 05 Jul 2025
Tourism Holdings stalls as NZ sharemarket ends week on high
Markets Market Close

Tourism Holdings stalls as NZ sharemarket ends week on high

The NZ sharemarket bounced back as large-cap stocks balanced gains and losses.

Tom Raynel 04 Jul 2025
Forsyth Barr shifts Turners Automotive to neutral
Markets

Forsyth Barr shifts Turners Automotive to neutral

The company has delivered five consecutive years of record earnings.

Rebecca Howard 04 Jul 2025
Vital board backs Tait takeover
Markets

Vital board backs Tait takeover

Vital’s board has unanimously recommended that shareholders and option holders accept a full takeover offer from Tait Communications, despite their view that it undervalues the company.In May, Vital shares rallied after it disclosed that Tait, a Christchurch-based critical commun...

Gregor Thompson 04 Jul 2025