Mainfreight sees growing NZ freight volumes as 1H profit rises

Mainfreight sees growing NZ freight volumes as 1H profit rises
Paul McBeth
Mainfreight expects its New Zealand operations will perk up as a growing pipeline of freight movements drive more business after a slowing local economy crimped first-half earnings growth. Net profit rose to $59.1 million in the six months ended Sept. 30 from $55.7 million a year earlier, although new accounting standards dragged the bottom line down. Adjusting for those changes, earnings before interest, tax, depreciation and amortisation rose 9.9 percent to $119.1 million and revenue increased 4.9 percent to $1.5 billion. Mainfreigh...

More Infrastructure

Third of Powerco on the line
Infrastructure

Third of Powerco on the line

New Zealand's second-largest lines company is 100% Australian-owned.

John Anthony 12 Apr 2024
Beachlands development zoning approval given
Infrastructure

Beachlands development zoning approval given

A large housing development in Beachlands South has been given the go-ahead with the approval of a change to the Auckland Unitary Plan.The private plan change rezones land south of the Beachlands township on the eastern fringe of the city.The development, on land encompassing the...

Staff reporters 12 Apr 2024
Slow and steady wins the race? Familiar speed bumps for fast-track
Policy

Slow and steady wins the race? Familiar speed bumps for fast-track

Freddy the frog will be glad to hear he still has a few months left on the clock.

Dileepa Fonseka 12 Apr 2024
Does NZ really need to spend $1 trillion on infrastructure?
Infrastructure Analysis

Does NZ really need to spend $1 trillion on infrastructure?

In short, no. We probably can't afford it.

Oliver Lewis 11 Apr 2024