Freightways is enjoying elevated activity as growth in e-commerce continues, Forsyth Barr broker Lyn Howe says. The company reported operating earnings of $56.1million for the six months ended December, up 8.4% on the previous corresponding period. Express package operating earnings increased 5% on 7% margin growth and information management's operating profit grew 9% on 7% higher revenue. ``Overall earnings before interest, interest, tax and amortisation margins are flat on the prior year despite revenue growth, reflecting the continued need to invest in capacity.'' Freightways made reference to the growth in express package volume and the need for continued investment in IT development and new initiatives to service the projected business-to-business and business-to-consumer volume growth.

Source: Otago Daily Times February 19, 2018 16:06 UTC