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

Kiwi's wings clipped, could break back below 60 US cents
Economy

Kiwi's wings clipped, could break back below 60 US cents

The NZ dollar is trading around a seven-week low. 

Synlait lifts 2024/25 forecast milk price
Primary Sector

Synlait lifts 2024/25 forecast milk price

Its $9 per kilogram of milk solids is in line with Fonterra's midpoint.

Don't fret over Mainfreight: Forsyth Barr
Markets

Don't fret over Mainfreight: Forsyth Barr

Recent performance has disappointed but long-term strategy remains clear, say analysts.

Generate commits another US$25m to private assets
Markets

Generate commits another US$25m to private assets

Generate is increasing its exposure to private assets as its funds grow.