MOVE Logistics Group Limited has released its unaudited results for the six months to 31 December 2021 (1H22), reporting revenue of $183.3m, EBITDA before non-trading costs down 12.8% to $28.7m and a net loss after tax (NLAT) of $(1.4)m.
The results reflect the impact of the COVID lockdown and regional restrictions in New Zealand from August to December 2021, with a positive recovery seen in Quarter 2.
A $40m capital raise was successfully completed during the period and the company is now focused on margin improvement, customer retention and restructuring as part of a two-year strategic plan.
Inflationary pressure, sector and economic headwinds are expected to continue into the second half of the financial year, although the company confirms that it expects FY22 performance to be broadly in line with FY21.
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