New Zealand's Move Logistics swings to profit in FY26 on cost cuts

Move Logistics

24/08/2026 21:46

Overview
New Zealand transport and logistics group's FY26 revenue rose 1.5% amid subdued economy
Company returned to profit with net profit after tax of NZ$0.3 mln
Normalised earnings before tax turned positive, driven by cost savings and improved execution

Outlook
Company says economic recovery signs are present but pace and timing remain uncertain
Move Logistics to focus on top-line growth and value creation after completing structural changes
Company continues to face warehousing sector challenges including excess capacity and weak demand

Result Drivers
DIVISIONAL TURNAROUND - Freight & Fuel, Specialist, and International divisions delivered profit and improved earnings, while Warehousing remained challenged by excess capacity and weak demand
STRUCTURAL COST SAVINGS - Co said embedded cost savings from transformation programme supported return to positive normalised earnings
GROSS MARGIN IMPROVEMENT - Gross margin dollars and percentage improved due to better pricing discipline, productivity gains, and operating leverage

Company press release: ID:nNZW8DS44R

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Net Income
 
NZ$300,000
 
FY Revenue
 
NZ$290.60 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)