Mainfreight’s Braid ‘impatient’ on fix for Europe after region’s underperformance dents earnings

Wed, 29 May 2013

May 29 (BusinessDesk) – Mainfreight managing director Don Braid says he’s impatient to bed down the European business after tough trading conditions in the region wiped out the transport group’s full-year earnings growth. Europe was the only region to record a drop in earnings before interest, tax, depreciation and amortisation in the year ended March 31, the Auckland-based company said today. Total group EBITDA fell 0.5 percent to $137.5 million, in line with the company’s March guidance. Sales rose about 4 percent to $1.88 billion. Mainfre...

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