Mainfreight half year revenues could be down $1b

Air freight is also likely to be impacted by the weak market. (Image: Mainfreight)

Mon, 06 Nov 2023

Transport and logistics bellwether stock Mainfreight is due for a "material decline" in profitability for the first half of the year, reflecting global customer destocking, Forsyth Barr says.In a research note ahead of this Thursday's interim results to September, the investment house said it expects to see volumes well down on the back of the weaker global freight environment.That reflects slower consumer off-take and supply chain destocking, particularly across Mainfreight's transport operations. At a market capitalisat...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Primary Sector

Fonterra's plans unchanged despite court ruling

Bega reiterates its interest in Oceania business.

Rebecca Howard 3:45pm

Property

'Trusted' builders to certify their own work

The changes are the latest in the Government's moves to make building more efficient.

Maria Slade 1:20pm

'Trusted' builders to certify their own work

Technology

Microsoft to contract out more software selling

“We are evolving the commercial solution areas within our sales organisation."

Bloomberg 12:10pm

Microsoft to contract out more software selling

Sponsored

“Not an invisible footprint”: Why technology supply chains need optimising

Outdated hardware is a supply chain and cost risk.

Datacom

Sponsored

Bayleys Total Property Issue 3 out now

Backed by Bayleys’ national strength and global reach

Bayleys

More Markets

Markets

All is not necessarily lost for Pacific Edge – Forsyth Barr

Pacific Edge shares fell 26% to 8.4 cents on Monday, but “all is not necessarily lost”, said Forsyth Barr analysts.A local coverage determination in the United States means the company will no longer receive reimbursement for its Cxbladder tests from Medicare. Centres for Medicar...

Staff reporters 4:30pm

Primary Sector