'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

Wed, 29 May 2024

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...

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