'We expect better': Mainfreight posts reduced profits

'We expect better': Mainfreight posts reduced profits
Mainfreight managing director Don Braid says post the 2024-year it remains a challenging trading environment. (Image: NZME)
Oliver Lewis
After a run of record profits, multinational logistics and transport operator Mainfreight has recorded a 35% drop in net profit to $277.9 million.The global supply chain business, which has a market capitalisation approaching $7 billion, released its results for the year to March 31 2024, to the New Zealand Exchange (NZX) on Wednesday. Compared to the prior period, which was characterised by extraordinarily high freight volumes, according to a previous comment from managing director Don Braid, revenue was down 17% to $4.72b. Reflectin...

More Infrastructure

‘Bluewater backbone’: Lyttelton, Auckland ports plan $1b+ of upgrades
Policy

‘Bluewater backbone’: Lyttelton, Auckland ports plan $1b+ of upgrades

Two of the biggest NZ ports are raising prices as they plan major investments.

Oliver Lewis 02 Jul 2025
Cost of Ōtaki to north of Levin highway nears $2b
Infrastructure

Cost of Ōtaki to north of Levin highway nears $2b

In 2020, the lower North Island expressway was costed at just $817m.

Oliver Lewis 01 Jul 2025
The keys to unlocking Northport's land value
Infrastructure

The keys to unlocking Northport's land value

MMH's land is valued at five times less than its next-door neighbour, Channel.

Ian Llewellyn 30 Jun 2025
Food scrap U-turn chills waste sector investment
Infrastructure

Food scrap U-turn chills waste sector investment

The Government’s backtrack on the food waste mandate undermines investor confidence.

Cécile Meier 30 Jun 2025