15 Aug 2016

Freightways profits rise

3:08 pm on 15 August 2016

Courier and information management company Freightways has reported a 13 percent rise in full-year profit.

The company's net profit was $49.8 million compared with $43.8m the year before.

Revenue rose 5 percent to $505m, with its courier businesses, which include New Zealand Couriers and Post Haste, up 3 percent, while its data management business was up more than 13 percent.

The company also operates the Fieldair cargo airline.

Managing director Dean Bracewell said the result was good and he expected solid growth this year in its domestic courier business, but slightly lower earnings from the information management division because of capital investment.

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