One of our largest freight companies says the war in Iran's been creating a drag on business - both in higher fuel costs, and lower consumer demand.

Freightways has announced a 13.5 percent rise in annual revenue, and a 17.3 percent rise in annual profit.

CEO Mark Troughear says fuel prices have taken some volume out of their customers.

"People are filling up their vehicles, it's costing them another, $50, $60, $70 per week - and that's money that they're not spending on some of the goods and services they might have otherwise spent it on." 

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One of our largest freight companies says the war in Iran's been creating a drag on business - both in higher fuel costs, and lower consumer demand.
Freightways has announced a 13.5 percent rise in annual revenue, and a 17.3 percent rise in annual profit.
CEO Mark Troughear says fuel prices have taken some volume out of their customers.
"People are filling up their vehicles, it's costing them another, $50, $60, $70 per week - and that's money that they're not spending on some of the goods and services they might have otherwise spent it on."&nbsp;
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Mark Troughear: Freightways CEO on the company's revenue going up amid fuel conflict headwinds

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ab127f3b-3ec4-4461-a5ea-b4a90065d327/transcript