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28/9/2018 — General
Annual shows Freightways earning growth

The just-released annual report for the leading Australasian transport company Freightways Ltd (NZX: FRE) should provide positive reading for shareholders.

The company reported earnings and dividend growth and was making major inroads in the express package and business mail business.

The report said Freightways was transitioning to Agile IT deployment, driving progress towards achieving greater speed of execution on its IT business priorities.

The strong sustained cash generation was leading to reduced gearing levels.

The report said the markets in which the company operates in both New Zealand and Australia remain positive, though the company is cautious about recent declines in business confidence in New Zealand. This may affect volumes through the network.

The company was forecasting more year-on-year earnings growth for FY19.

PDF File Freightways annual report (2.4 megabytes)
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