Slow freight turnaround sees Move stumble to $7.2m net loss

Craig Evans and Lorraine Witten plan to bring in a cash profit-sharing scheme. (Image: Move)

Wed, 30 Aug 2023

A softer performance from its freight division and the impact of weather events saw Move Logistics widen its net loss after tax to $7.2 million for the year to June, from a loss of $4.2m the prior year.The dual-listed New Zealand and Australian logistics and freight firm posted a revenue decline of 4.5% to $343.9m from $360.1m on the back of a 19% drop in freight revenues to $146 million. No dividend was declared.It was brighter news across the group’s contract logistics business – incorporating its specialist road tanker and fuel d...

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