Freightways has enjoyed a bumper start to the new financial year.
Profit for the courier and information storage company has risen 19% to $8 million in the three months to September compared with the same period a year ago.
Freightways says the result is its highest first quarter profit since listing in 2003. Revenue rose 9% to $93 million.
A one-off $900,000 benefit from insurance payouts due to an earthquake claim has not been included.
Managing director Dean Bracewell says the result is better than expected the company is pleased to see such a good start to the financial year.
"It now means that for three out of the last four quarters for Freightways we have seen double-digit earning growth from our core express package business and we continue to get sound growth in our information management division as well, he says.
The company says its package and business mail business is benefiting due to growth among its existing customer base, while margins at its data management will shrink due to ongoing investment in facilities to meet strong demand.
Freightways bought the New Zealand operations of Iron Mountain for $12.7 million last month and the company expects that will boost operating earnings by $1.5 million in the first full year.
Shares in the company jumped 11 cents to $3.42 on news of the profit figure.
