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Move shifts gear again after bloodbath result

Listed transport company reported a significant loss, while another turnaround strategy is actioned.

Former 2 Cheap Cars’ chief executive Paul Millward to lead Move’s new turnaround strategy.

Key points
  • Revenue: Down 14.5% to $293.9m.
  • Loss: $48.1m, compared with a $7.2m loss last year.
  • Main takeaway: Move in a difficult spot as it acknowledges it was too slow to respond to the economic downturn. Putting its weight behind new CEO Paul Millward and a new turnaround strategy.

Move Logistics tells NBR it is “laser focused” on embedding a “well resourced” and “well thought out” new strategy, led by an experienced turnaround executive, in order to survive and thrive as the economy recovers.

Yesterday, the dual-listed transport and logistics company reported a

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Jonathan Mitchell Fri, 30 Aug 2024
Contact the Writer: jmitchell@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Key points
  • Revenue: Down 14.5% to $293.9m.
  • Loss: $48.1m, compared with a $7.2m loss last year.
  • Main takeaway: Move in a difficult spot as it acknowledges it was too slow to respond to the economic downturn. Putting its weight behind new CEO Paul Millward and a new turnaround strategy.
Company profile
Powered by:
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Move shifts gear again after bloodbath result
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