MOVE Logistics NEBT Positive FY26
MOVE Logistics Group reported positive normalised earnings before tax for the year ended 30 June 2026, meeting its NEBT target as part of its ongoing New Horizons transformation. Three of four divisions—Freight & Fuel, Specialist, and International—delivered profitable earnings, while Warehousing remained below expectations and is driving a focus on top-line growth. The results reflect a shift from the Reset phase to the Step-Up phase, with management pursuing accelerated commercial growth and leaner, more capable operations. The company also reduced net debt, improved free cash flow, and arranged a new Bank of New Zealand invoice finance facility starting in November 2026 to optimise working capital and reduce financing costs. CEO Paul Millward described FY26 as a milestone that strengthens the business amid an uncertain economy and intense competition. Audited results are expected later in the year, with preliminary figures signaling a positive trajectory for MOVE’s four-year plan.