Mainfreight earnings lag last year’s, Australian unit struggles as parcel business weighs

Wed, 31 Jul 2013

July 31 (BusinessDesk) - Mainfreight, the international logistics firm, has told shareholders earnings are a little behind a year ago, and is quitting parcel freight in Australia as the business weighs on its unit across the Tasman Managing director Don Braid told shareholders at today’s annual meeting earnings before interest, tax, depreciation and amortisation to the end of May were 2.5 percent behind the same time a year earlier as “conditions remain difficult.” Australian trading has been deteriorating in recent months as Mainfreight qu...

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