Move Logistics at 23 Cents: A Turnaround That Is Finally Showing in the Numbers
Move Logistics has spent the past few years as a difficult stock to own. The MOV.NZ company has been a loss-maker working through a transformation plan, and patience has been required. The latest result suggests that patience may finally be earning something: the losses have narrowed sharply, and management is calling it the strongest result in several years. The share price, up by more than a third over the past year, has started to notice.
Move Logistics is a New Zealand transport and logistics company. It runs general freight, bulk liquids, heavy haulage, trans-Tasman shipping, warehousing, and distribution, organised into divisions covering International, Specialist, Freight and Fuel, and Warehousing. It is a smaller competitor in a sector dominated by much larger players.
Recent Performance
As of early 2026, MOV traded around $0.23, having risen roughly 36% over the prior 12 months. This is a small-cap stock, and the gain reflects improving sentiment as the turnaround has gained traction.
It is worth being clear-eyed: a 36% rise sounds dramatic, but it is a recovery from a low base, and the company is still working its way back toward consistent profitability.
Key Metrics
The figures that frame the case:
- •Share price: around $0.23 NZD
- •Share price change: up about 36% over the past year
- •H1 FY2026 revenue: $143.7 million, down 5%
- •Net loss after tax: improved by about $8 million, nearing breakeven
The key line is the last one. Move Logistics is still loss-making, but the half-year net loss narrowed by around $8 million and the company is close to breaking even. Normalised earnings, which strip out one-off items, rose 98% on the prior year. When a company is mid-turnaround, the trend in losses matters more than the absolute numbers, and here the trend is clearly positive. For how we assess companies working back toward profit, see our [methodology](/methodology).
The Big Picture
The result is notable because revenue actually fell 5%, yet profitability improved sharply. That combination tells you the gains came from cost control and efficiency, not from a sales boom. Gross margin improved by a full percentage point, reaching its highest level in several years, as the company's cost and efficiency programme took hold.
Three of Move's four operating businesses delivered profitable earnings, a meaningful shift for a group that has struggled. The International division was a standout: its Oceans trans-Tasman shipping service moved into profit, which the company said validated its decision to move to a larger vessel and a time-charter model.
Move Logistics operates in the same broad sector as far larger and more established names. [Mainfreight](/stocks/mainfreight) is the New Zealand logistics heavyweight, and [Freightways](/stocks/freightways) is another well-run incumbent. Move is the small challenger, and its investment case is squarely about self-improvement: getting its own house in order rather than relying on a buoyant freight market.
What to Watch
Three things will shape the outlook.
First, reaching profitability. The losses have narrowed, but the company is not yet consistently profitable. Watch whether the next result crosses into the black and stays there.
Second, the freight market. Revenue fell this half. A weak freight environment makes the turnaround harder; a stronger one would give it a tailwind.
Third, the remaining problem area. Three of four businesses are profitable. Watch whether the fourth is fixed or remains a drag.
The Bottom Line
The bull case for Move Logistics is a genuine turnaround showing up in the numbers, sharply narrower losses, improved margins, and most divisions back in profit. The bear case is a company still not consistently profitable, in a competitive sector against much larger rivals, with revenue still going backwards. At around $0.23, Move is a turnaround story for investors who believe the self-help plan will carry it the rest of the way to profit.
*This article is for informational purposes only and does not constitute financial advice. Always do your own research or consult a licensed financial adviser before making investment decisions. Figures are drawn from publicly available company disclosures and market data and may change after publication. See our [methodology](/methodology) for how we approach these articles.*