Mainfreight half-year profit leaps 66% to $155m

Résumé détaillé

Listed transport operator Mainfreight has seen its half-year profit jump 66 percent on the same period last year.

Listed transport operator Mainfreight has seen its half-year profit jump 66 percent on the same period last year.

The company posted a profit after tax of $155 million in the six months to the end of September.

That was on revenue of $3.1 billion, which was also up nearly 20 percent.

The company described the revenue and profit performance as satisfactory when compared with its disappointing performance in the year prior.

It says the revenue growth was due to a combination of increased customer activity and market share gains.

Freight volumes increased across all regions, including both domestic and international movements.

The New Zealand and Australian divisions continue to perform well, with reasonably strong gains in market share across both countries, the company said.

Profit and revenue performance was also up in operations across the Americas and Europe.

In a note to the NZX, the company said the Australasian business performance was a highlight, with increased contributions from its European and US businesses also helping to deliver a better-than-expected first-half result.

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