Mainfreight posts record FY profit on NZ, Australia as Wim Bosman disappoints

Tue, 29 May 2012

By Jonathan Underhill May 30 (BusinessDesk) - Mainfreight, the biggest road transport company on the NZX 50 Index, posted record annual sales and profit on growth in New Zealand and Australia, while reporting that the Wim Bosman business missed an earn-out target. Net profit more than tripled to $80.5 million in the 12 months ended March 31 from $25.7 million a year earlier, the Auckland-based company said in a statement. Before one-time items, profit rose 39 percent to $65.8 million. Sales climbed 35 percent to $1.81 billion. Mainfreight m...

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