Mainfreight sees growing NZ freight volumes as 1H profit rises

Wed, 13 Nov 2019

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...

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