Freightways says it has had a good start to the new financial year, and although it is still early it expects to make a bigger profit this year.
The courier and information management company made an after tax profit of $9.8 million in the three months to the end of September, which is an increase of 7% on the same quarter last year.
All its courier and mail businesses continue to grow, except for its business to business DX Mail, which declined.
Freightways chief executive Dean Bracewell says that is due to more businesses using email rather than physical post, and the company is trying to diversify and expand to counter the decline.
Freightways bought two information management companies - one in New Zealand and the other in Australia - this month, which Mr Bracewell says will be a major factor in the company posting a bigger profit this year.
International expansion
Freightways is looking to expand internationally, as well as buying more companies in New Zealand and Australia, in a bid to boost its growth prospects.
Dean Bracewell says they want to continue their expansion in Australia in order to reduce the company's reliance on the New Zealand market.
He says the company has already built capacity and invested in the business in Australia, but it is also keen to expand further afield.
Mr Bracewell says Freightways is also looking to buy more businesses this year, as well as continuing to grow its businesses organically.
