29 Oct 2009

Freightways profit up

12:11 pm on 29 October 2009

Freightways says its net profit for the three months to the end of September rose 2% on a year earlier, because of lower debt costs.

Revenues actually fell by 5% to $82 million, but lower debt costs resulted in a profit of $7 million.

Managing director Dean Bracewell says it's been a difficult operating environment and business will continue to track behind last year's performance, but the medium to longer term outlook is more positive.