Monday 18th August 2008
|Text too small?|
Net profit rose to NZ$32.3 million from NZ$30.8 million a year earlier, the company said in a statement. Operating revenue rose 14% to NZ$323.9 million.
Freightways lifted earnings even as fuel costs rose and the domestic economy slowed. Express packages, its biggest source of revenue, should "continue to perform strongly," managing director Dean Bracewell said today.
The company raised its final dividend to 9.25 cents a share from 9 cents, bringing its full-year payments to 18.75 cents, a 4% gain from the previous year.
Freightways expanded in Australia last year, buying data storage firm National Records Managers and Fine Paper Suppliers, a document destruction and paper recycler that is being merged with its existing Shred-X unit. Information management is "an emerging growth opportunity," Bracewell said.
Bracewell confirmed the combined purchase price for the two acquisitions at A$5.9 million. "It is expected that these businesses will generate EBITDA in total of approximately A$1 million in the 2009 financial year," he said.
Freightways stock has gained 8% in the past month, about matching the NZX 50 Index.
No comments yet
Freightways meets guidance with 6 percent gain in profit before items, sees similar 2014 growth
Freightways profit to increase 6 percent in 2013 and 2014, lagging expectations; shares drop
Freightways 1H profit rises 11 percent to record, meeting estimates, see slow growth ahead
Freightways lifts September quarter profit by 14 percent
Freightways beats estimates gain 24% in FY profit, sees growth in 2013
Freightways buys Dataprint for up to $6.5 million
Freightways first-half profit jumps 20%, lifts dividend
Freightways continues buy-up of info management firms with Australian acquisition
Freightways reports strong first quarter, seeks directors' fee hike