UPDATE: Mainfreight shares rise on 28% lift in FY net profit, sees momentum

Mon, 27 May 2019

(Recasts lede to include share price reaction, updates share price in 3rd paragraph, adds broker comment from 7th paragraph) By Rebecca Howard May 28 (BusinessDesk) - Mainfreight's shares rose 4.2 percent after the company reported a 28 percent lift in full year net profit as it global network continues to strengthen across its three core services of domestic transportation, warehousing and international freight forwarding. The Auckland-based company said net profit was $137.6 million in the year to March 31 versus $107.7 million in t...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

On the Money

On The Money: Fisher Funds, FirstCape, NZX snacks, and more...

Our regular weekend round-up of corporate (and other) ephemera.

Pattrick Smellie 5:00am

Economy

Simon Robertson: How to discourage wealth

Let NZers invest $1 offshore without making the starting point 95c every year.

Simon Robertson 5:00am

Infrastructure

AI is a humungous electricity hog. That’s great

Who better to drive clean-energy investment than some of the world’s biggest firms?

Bloomberg 5:00am

AI is a humungous electricity hog. That’s great

Sponsored

Boosting rural growth with innovation

Productivity and sustainability go hand in hand for the rural sector

ASB Scam Update

Sponsored

Auckland's new "Midtown" taking shape

5-star hybrid workspaces, combined with the City Rail Link, are creating a revitalised inner-city zone designed to motivate workers back to the office.

Alberts