A 1% increase in the first half net profit, on solid trading for its core business was reported by New Zealand courier company Freightways Ltd on Monday.

In the six months to 31st December, Freightways made a net profit of NZ$16.9 million ($8.8 million) compared with NZ$16.8 million in the same period a year ago.

On Friday Shares of Freightways closed at NZ$3.12, having fallen 2.6 percent in the past year, against a 1.3 percent rise for the benchmark NZSX-50 index .NZ50.

An interim dividend of 8 cents per share compared to 9.5 cents a share last year was declared by the company.

Package delivery and data storage services are operated by Freightways in New Zealand and Australia.

The company confirmed, "Freightways will continue to be affected by the current economic downturn. In the medium to long-term, Freightways is exceptionally well positioned to reap the benefits of any improvement in the marketplace."