Mainfreight shares soar on improved half-year earnings

Wed, 14 Oct 2020

Shares in Mainfreight jumped almost 6 percent this morning after a half-year trading update showed it had improved revenue and profits as a result of growing market share during the covid crisis.Managing director Don Braid said estimated revenue for the past 26 weeks was up 7.2 percent to $1.6 billion and estimated profit before tax was up 23.4 percent at $102 million.Shares in the global logistics company rose 5.9 percent to $51.35, bring its gain this year above 20 percent. Its audited half-year result will be released on Nov. 11.Competitors...

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