Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Freightways Trading Update

25 November 2004

Trading Update

An update on unaudited trading performance for the four months ended 31 October 2004 is provided below.

For the first four months of the current financial year, Freightways trading has again been consistently strong. Volumes in all businesses are ahead of last year. These volume increases have arisen from higher activity from existing customers and increased market share. There has also been some small pricing and margin improvement compared to the previous year. In addition, the small acquisition Freightways made of an information management business in March of 2004 has contributed positively and to expectation.

For the four months ended 31 October 2004 Freightways revenue totalled $74.8 million and Earnings Before Interest, Tax and Amortisation (EBITA) amounted to $15.5 million. This performance represents an increase in revenue and earnings of 11% and 32%, respectively, over the prior corresponding period. Net profit after tax was $6.5 million for the four months, an increase of 42% over the prior corresponding period.

Results for the four (4) months ended 31 October (unaudited):
Four months ended: 31 October 2004 31 October 2003 % variance
$000 $000

Revenue 74,788 67,105 11%

EBITA 15,517 11,736 32%

Net profit after tax 6,496 4,579 42%
This result continues the strong historic performance of Freightways as shown on the following graphs in relation to the last five years financial performance. (NB: Historic EBITA amounts for the years ended 30 June 1999 to 2003 have been presented on a pro-forma basis consistent with the Freightways Statement and Prospectus issued in August 2003.)

Freightways Operating Revenue

Freightways EBITA


From Freightways’ viewpoint the domestic economy remains favourable and we are not aware of any material changes to our operating environment that may negatively impact on Freightways’ performance. At this stage of our annual business cycle, and subject to economic and business factors beyond our control, the outlook for Freightways, its shareholders and all other stakeholders remains very positive.


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news