19 Feb 2013

Freightways expects growth despite economic situation

7:02 am on 19 February 2013

Freightways expects to keep growing despite the uncertain economic environment, the higher costs of servicing Christchurch and the impact that low prices for recycled paper are having on its information management business.

The courier and data management company announced a record first half-year profit of $21 million in the six months to the end of December 2012, an increase of 10% compared on the same period a year earlier.

For the first time, revenue in the half year topped $200 million, up 8%.

Revenues for the main express package business rose 6% to $158 million while revenue for the information management division jumped 15% to $50 million.

Freightways chief executive Dean Bracewell says the company has a positive outlook with the company in slow growth.

He concedes there will still be challenges and says the company will be keeping a watchful eye on what happens around the globe as anything that happens overseas affects Freightways customers.

However, he said express package and business mail division, as well as the information management division, to continue to grow.

Mr Bracewell said the company will continue to look for new acquisitions in New Zealand and Australia.