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

Outlook

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.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Commerce Commission: Appeals Record $2.25m Fine In Vodafone FibreX Case

The Commerce Commission has filed an appeal in the High Court against a record $2.25 million fine imposed on Vodafone NZ Limited (Vodafone) for its offending under the Fair Trading Act during its FibreX advertising campaign. While the sentence imposed in the Auckland District Court on April 14 was the largest-ever fine under the Fair Trading Act, the Commission will argue that it is manifestly inadequate... More>>



All District Health Boards: Historic Pay Equity Settlement

An historic agreement has been ratified that addresses a long-standing undervaluation of a workforce that is critical to the smooth running of our hospitals and the delivery of healthcare... More>>


MPI: Dry Autumn In Waikato And South Auckland Leads To Drought Classification Drought conditions affecting the primary sector in the Waikato and South Auckland were today classified as a medium-scale adverse event, enabling a package of support for farmers and growers... More>>


Barfoot & Thompson: Rents Up By Around 3% In Most Areas

The average weekly rent paid for homes in most areas of Auckland has risen by around 3 percent year-on-year. The figures for end March from more than 16,000 properties... More>>


DoC: Smeagol The ‘Gravel Maggot’ Leaves Its Rare Mark On The Remote West Coast
An extremely rare species of sea slug or ‘gravel maggot’ has been detected for the first time on a remote beach in South Westland... More>>



Immigration: Annual Net Migration Loss Of 7,300

The provisional net loss of 7,300 people in the year ended March 2022 was the lowest net migration for a March year since 2012, Stats NZ said today... More>>