Mainfreight earnings growth slows

Thu, 09 Feb 2023

Mainfreight said its pace of revenue and earnings growth slowed in the December quarter with subdued performances in its US and Asia operations, which account for about 35% of the logistics group's revenue. Pre-tax profit rose 32% to $490.2 million in the 43 weeks ended Dec 31 from the same period a year earlier, outpacing the 17% increase in revenue to $4.82 billion. Mainfreight's New Zealand, Australian and European divisions all generated double-digit revenue growth, whereas its US business reported a 1% increase in sales...

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