30 Oct 2014

Freightways profit 'best in 10 years'

1:17 pm on 30 October 2014

Freightways says its first quarter sales and profit are the best in 10 years, with record earnings from each of its two divisions.

The courier and information management company told its annual shareholders meeting in Auckland, this morning, that profit for the three-months, ended September, was almost $13.4 million, compared with almost $9.8 million last year.

That was an increase of 38 percent.

But on a like for like basis, the increase was 22 percent over the same time last year.

Managing director Dean Bracewell, says said the first quarter reflected the strength of the New Zealand economy, but it was also a result of the company's strong management, committed staff and a good strategy for growth.

He said the result was very strong its express package and information management division in every area it operates.

Mr Bracewell said every one of its businesses was doing better than last year.

He said, overall, it was the company's strongest ever result since since 2004, which was an outstanding result.

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