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

Wed Apr 29, 2009 10:52pm EDT

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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)



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