Freightways to express deliver more price hikes

Its express businesses have continued as the star of the show. (Image: Freightways)

Thu, 26 Oct 2023

Australian express package business Allied Express helped Freightways ramp up revenues by more than a quarter during the first quarter to $298 million.Earnings before interest, tax, depreciation, and amortisation (Ebitda) were up 11.9% on the comparable period to $55.4m, while net profit after tax was down 4.7% at $18.4m from $19.3m for the prior year.That was attributed by chief executive Mark Troughear to higher debt, amortisation and labour costs. The dual-listed company paid A$160 million (NZ$174m) in a cash and shares deal f...

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