TIL Logistics Group is now MOVe Logistics Group Limited

Summary

  • TIL Logistics undergoes revamp, offers new name and strategy
  • New brand name offered in hopes of synchronizing processes through the country.
  • Offering several management changes and guidance, the company aims at pumping new enthusiasm

With its headquarter situated in New Plymouth, TIL Logistics Group Limited(NZX:TLL) offers logistics and freight services across the country. Along with that, its warehousing services as well as transport of freight across the country while coordinating offshore freight related activities through the way of international partnerships.

Image Source: © 2021 Kalkine Media

New Name, new game

In an announcement made today, TIL Logistics Limited is now going to be renamed  as MOVe Logistics Group Limited. The Company originated in the year 1869 with the singular function of a transport centric service. It has since evolved to become one of the largest logistics and freight suppliers in the country. It has bifurcated into services such as fuel, warehousing, lifting and international transport besides others. All of these verticals shall now function under the name MOVe, which will help the Company in streamlining its operations under one name, offering a complete range of services to the clients.

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It was further explained that the Company is proud of its history and the vital part that it plays in the economy of the country. It was explained that the new name is not just that, but is also the idea it brings with itself, one to “move ahead”. It aims at  becoming the most preferred logistics and transport providing company in New Zealand as well as other parts of the world.

From the Chairman’s desk

Trevor Janes the MOVe Logistics Group Chairman is of the view that with the growing demand of end-to-end solutions by the customers, the Company felt the need to  synchronize the range of services and network under a singular name. This kind of approach has made it easier for the brand to make its presence felt, and will offer greater connectivity to the clients, as they shall be able to look at the brand as one unit.

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New market updates offered  by the Company

In a market update provider by the Company recently, it was said that it is on the right track to be able to achieve its EBITDA Guidance for FY21, estimated to be NZ$57.4 million. The Company is further taking initiatives for improvement especially in terms of freight. It is also expecting a decent profit in FY21.

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Mark Newman has been appointed as the new director for the Company. Chris Dunphy has been appointed as the executive director for the organization, while Lee Banks shall re-join the Chief Financial officer role. These major changes infused in the organization are being done in hopes of approaching the market with a new rigor for better results in the future.

On 28 July 2021, the Company traded at NZ$1.310 flat at the time of writing.

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