Freightways Limited has reported record earnings for the year ended 30 June 2008.

Managing director Dean Bracewell says the successful execution of Freightways' growth strategy in the Australian market, a sound result from its core express package division in a challenging local market, and outstanding performance from the information management division all combined to help the company continue its run of consecutive record annual results since listing on the NZX in September 2003.

Consolidated operating revenue for the year (to 30 June) of NZD324 million - topping NZD300 million for the first time - was 14% up on the previous year, with earnings before interest, tax, depreciation and goodwill amortisation (EBITDA) of NZD68.5 million, 9% ahead of the previous year. Earnings before interest, tax and goodwill amortisation (EBITA) of NZD60.5 million for the year were up 7% on the previous year.

Cash generated from operations for the year before interest and tax was $67.5 million, 8% higher than the previous year, while consolidated net profit after tax (NPAT) of $32.3 million was 5% higher than the previous year.