NZ's Freightways posts 4 pct rise in nine-month profit

WELLINGTON, April 30 (Reuters) - New Zealand transport operator Freightways Ltd FRE.NZ on Thursday posted a 4 rise in net profit for the nine-months to March 31 on cost savings and market share growth.

Freightways made a profit of NZ$24 million ($13 million), compared with NZ$23 million last year.

Shares in Freightways last traded up 10 cents or 3.7 percent to NZ$2.90, in a broader market up 2 percent. So far this year the stock has fallen 10 percent compared with a 1.5 percent rise for the benchmark NZX-50 index .NZ50. ($1=NZ$1.77)