MOVE Logistics Group Limited (NZX/ASX: MOV), one of the largest domestic freight and logistics businesses in New Zealand with a nationwide network of branches, depots and warehouses, has announced it achieved its target of positive normalised earnings before tax (NEBT) for the year ended 30 June 2026 (FY26). Based on preliminary unaudited results, the company delivered significant improvement, including growth in revenue with increasing momentum and a continued enhancement in gross margin. The company also reduced borrowings and net debt, returning to generating positive free cashflow.
This positive momentum and return to profitable earnings align with MOVE’s “New Horizons” roadmap, with the Reset phase complete and the Step-Up phase focused on accelerating commercial growth. Three of MOVE’s four business divisions delivered profitable earnings for FY26: Freight & Fuel, Specialist, and International, which saw a material year-on-year earnings uplift. The Warehousing division, however, remains below expectations, with management now prioritising aggressive top-line growth to restore profitability following structural cost-outs.
Prudent capital management contributed to the financial improvements, with a new BNZ invoice finance facility commencing in November 2026 expected to further reduce ongoing finance costs and optimise working capital. CEO Paul Millward commented that FY26 represents an important milestone, as the company delivered on its financial target and strengthened the business to be leaner and more capable. He noted that achieving increased revenue and positive earnings (NEBT) amidst an inconsistent economy and intense competition signifies a major accomplishment. MOVE will report its FY26 audited results on 25 August 2026.
