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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