Logistics and courier company Freightways has recorded a 5.8 percent decrease in net profit after weathering what its leaders believe to be the worst of the economic cycle in New Zealand and Australia.

Freightways announced its 2024 results to the NZX on Monday. It reported net profit after tax of $70.9 million, a reduction from its 2023 result that the company said was largely due to higher interest expenses.

Earnings before interest, depreciation, tax, and amortisation were $229.1m, up 6.6% from 2023.

Freightways CEO Mark Troughear explains further.

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Logistics and courier company Freightways has recorded a 5.8 percent decrease in net profit after weathering what its leaders believe to be the worst of the economic cycle in New Zealand and Australia.
Freightways announced its 2024 results to the NZX on Monday. It reported net profit after tax of $70.9 million, a reduction from its 2023 result that the company said was largely due to higher interest expenses.
Earnings before interest, depreciation, tax, and amortisation were $229.1m, up 6.6% from 2023.
Freightways CEO Mark Troughear explains further.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Mark Troughear: Freightways CEO on the company reporting a decrease in net profits

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b837187e-3def-42b2-8895-b1d1008793b7/transcript

National and NZ First have expressed interest in pulling apart Foodstuffs, and the company is looking to fight back.

Foodstuffs recently commissioned consultancy firm Houston Kemp to review the Government-ordered cost-benefit analysis of making the split - with the review claiming the earlier conclusions were 'too good to be true'.

Houston Kemp founding director Greg Houston says the recipe of lower prices, higher costs and wiping out profits doesn't seem 'plausible.'

LISTEN ABOVE

National and NZ First have expressed interest in pulling apart Foodstuffs, and the company is looking to fight back.
Foodstuffs recently commissioned consultancy firm Houston Kemp to review the Government-ordered cost-benefit analysis of making the split - with the review claiming the earlier conclusions were 'too good to be true'.
Houston Kemp founding director Greg Houston says the recipe of lower prices, higher costs and wiping out profits doesn't seem 'plausible.'
LISTEN ABOVE

Greg Houston: Houston Kemp founding director on Foodstuffs stepping up efforts to stop National potentially breaking them up

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9eb360cf-dc0c-40c6-987f-b4d600723ceb/transcript

New data shows Australia's house prices have taken a plunge, with Sydney and Melbourne leading the way. 

Prices across the nation have taken a significant drop since the property market peaked in March, and experts are unpacking the economic implications.

Australian correspondent Murray Olds says the recent increases to the OCR are having a real impact on the housing market.

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New data shows Australia's house prices have taken a plunge, with Sydney and Melbourne leading the way.&nbsp;
Prices across the nation have taken a significant drop since the property market peaked in March, and experts are unpacking the economic implications.
Australian correspondent Murray Olds says the recent increases to the OCR are having a real impact on the housing market.
LISTEN ABOVE

Murray Olds: Australian correspondent on Australian house prices dropping across the country

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/6bc9f8df-73e6-4149-b086-b4d600441b89/transcript

National says it'll make trans-Tasman travel more 'seamless' if re-elected.

The party is promising to trial fully digitalising airport processes between Australia and New Zealand, so people don't need to show passports.

Eligible travellers could provide details digitally and pass through gates with facial recognition.

Tourism spokesperson Louise Upston says this will make the process faster and encourage more Australians to come to New Zealand. 

"In 2009, when National was last in office, we got the SmartGate technology - and so this is really the next step, which means you don't have to have your physical passport as you're moving through the airport." 

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National says it'll make trans-Tasman travel more 'seamless' if re-elected.
The party is promising to trial fully digitalising airport processes between Australia and New Zealand, so people don't need to show passports.
Eligible travellers could provide details digitally and pass through gates with facial recognition.
Tourism spokesperson Louise Upston says this will make the process faster and encourage more Australians to come to New Zealand.&nbsp;
"In 2009, when National was last in office, we got the SmartGate technology - and so this is really the next step, which means you don't have to have your physical passport as you're moving through the airport."&nbsp;
LISTEN ABOVE

Louise Upston: National's tourism spokesperson on the party pledging to make trans-Tasman travel more seamless

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d1de66a7-45bf-4b28-bf7e-b4d6003e9c61/transcript

Mark Troughear: Freightways CEO on the company reporting a decrease in net profits

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