Freightways delivers a record half year result

Freightways has announced a record consolidated result for the half year ended December 31, 2014. The company states that all its businesses across every region improved their performance. Freightways reported revenue of $242m, 11% higher than the prior comparative period of 2013. It also recorded EBITDA of $49m, an increase of 16% year-on-year. Accordingly the company’s margin stood at 20.25%. These results include the benefit of three extra trading days compared to the prior comparable period.

Freightways’ Managing Director, Dean Bracewell said, “Organic growth strategies were rewarded through continued support and increased activity from existing customers and greater demand for newly-introduced digital services. The half year saw the acquisition of further Australian-based information management businesses and solid performance from those businesses acquired in the previous financial year.”

The first half operating revenue for the company’s core express package & business mail division, representing about 75% of the business, was $185m, an increase of 10% year-on-year. This division also recorded EBITDA of $36m, an increase of 16% compared to the sixth months ended December 31, 2013. Freightways stated that activity from existing customers increased progressively throughout the half year, while new customers were introduced across the division. The business mail operation, DX Mail, again grew its share of the postal services market, despite the overall decline in that sector.

Operating revenue for the information management division of $58m was 12% above the previous year’s result. The division’s EBITDA also grew to $14m, 15% higher year-on-year. Freightways states that growth on both sides of the Tasman was equally strong, as demand from businesses for physical storage of documents and computer media continues to increase, while newly-introduced digital services have gained encouraging support from existing and new customers.


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