Brief: Freightways Says Impact Of Cyclone Gabrielle On Express Package Businesses Has Been NZ$2M In EBITA

Freightways

29/03/2023 01:21

March 29 (Reuters) - Freightways Group Ltd  FRW.NZ :
    * TO DATE, IMPACT OF CYCLONE GABRIELLE ON EXPRESS PACKAGE
BUSINESSES HAS BEEN IN REGION OF NZ$2M IN EBITA
    * BOARD RESOLVED TO SUSPEND APPLICATION OF DIVIDEND
REINVESTMENT
PLAN IN RESPECT OF UPCOMING INTERIM DIVIDEND PAYMENT
    * SINCE ANNOUNCEMENT OF HY RESULTS EXPRESS PACKAGE VOLUMES
REMAINED STEADY COMPARED TO SAME PERIOD LAST YEAR
    * THESE COSTS ARE EXPECTED TO BE IN ORDER OF NZ$1.5M-NZ$2.5M
DURING THIS FINANCIAL YEAR
    * NET ANNUALISED IMPACT IN COSTS IN OVERNIGHT NETWORK
EXPECTED TO
BE NZ$3.5M P.A.
    * IN THIS FY, EXPECTS TO INCUR ONE-OFF COSTS ON MERGERS AND
ACQUISITIONS ACTIVITIES & PREPARING FOR POTENTIAL DUAL LISTING
ON ASX

Further company coverage:  FRW.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))