18 Aug 2008

Freightways profit rises to record level

12:59 pm on 18 August 2008

Express package company Freightways has delivered a record annual profit of $32.3 million in the year to June - an increase of 5% on the previous year

The company's revenue rose 14% to $324 million.

Freightways' Managing Director, Dean Bracewell, says it has been challenging environment to operate in with fluctuating volumes, and rising fuel costs.

He says the company's main courier business, and its move into Australia, are the main drivers behind the increase in profit.

Dean Bracewell says it will take the company some time to recover from the surprise increase in the cost of road user charges.

Freightways declared a total dividend payout of $9.25 a share.