Freightways, New Zealand's largest listed courier and data management company, posted a 3 percent gain in full-year profit, driven by growth in its express package and mail business, and said it expects further growth in 2015.
Net profit was $41.7 million in the 12 months ended June 30, up from $40.3 million a year earlier, the Auckland-based company said in a statement. Operating revenue climbed 6 percent to $432 million. Profit was just below the forecasts of Forsyth Barr and First NZ Capital at $42.8 million and $42.2 million respectively.
The company said it expects growth in 2015, helped by increased demand from existing customers of its express packaging business, while its DX Mail business "will continue to operate in a challenging environment." In information management, growth on both sides of the Tasman "has been equally strong," it said.
Sales at express packaging and business mail rose 8 percent to $332 million and earnings before interest, tax, depreciation and amortisation climbed 11 percent to $61 million.
The multi brand company, whose businesses include New Zealand Couriers, Post Haste Couriers and DX Mail, has been expanding its information management interests, buying document management companies Docushred and Document Destruction Services, as well as Advance Security Destruction Services and Document & Data Storage Management in Australia.
