Freightways will pay a lower dividend to shareholders despite posting a slight rise in its half year profit.
The transport and logistics company says it's taking a cautious approach given the market uncertainty.
Net profit rose 1% to $17 million for the six months to the end of December, compared with the same period in 2007.
Freightways will pay a dividend of 8 cents per share, which is 1.5c lower than its previous payment.
While the result is described as sound and the business is resilient, chief executive Dean Bracewell says Freightways needs to be prudent.
Freightways is not forecasting its annual result, but Mr Bracewell says it plans to update the market in April.