Fliway Group has announced improved earnings for the second half of last year.
The guidance has improved, for the six months to December 31, 2015, to between $4.9 million and $5.2 million, an increase over original expectations of between 15% and 20%.
The resulting Pro Forma NPAT is expected to be between $3.3 million and $3.5 million (compared with the prospectus forecast of $2.9 million).
In a statement to the NZ sharemarket, the freight carrier says all divisions traded inline or ahead of expectations last year.
Cashflows are ahead of prospectus forecast and are expected to result in net debt being 25% to 30% lower than the prospectus forecast of $8.9 million.
“As communicated at the AGM, we continue to experience softer revenues. This reflects lower fuel costs, lower international shipping rates and a challenging trading environment.”
Full results will be announced late February.
