MOVE Logistics exceeds earnings guidance, updates Project Blueprint

Transport and logistics group, MOVE Logistics, has reported unaudited interim results for the six months ended December 31 2023, exceeding guidance.

The company's normalised earnings before interest, tax, depreciation and amortisation (EBITDA) reached $13.2 million, higher than the projected range of $11.5m to $12.5m.

MOVE attributed the strong performance to its diversity across customer and business sectors, which helped mitigate the impact of economic and sector headwinds.

The company also provided an update on Project Blueprint, a programme aimed at reshaping and strengthening the business.

It said most benefits from the initiative were expected to be seen in the second half of 2024.

MOVE's chief executive, Craig Evans, expressed confidence in the company's position to capture increased customer activity levels when the economy recovers.

No dividend has been declared.