Mainfreight hits one-month high; NZX50 drops

Mainfreight expects its half-year profit to be 66% higher than last year. (Image: Mainfreight)

Fri, 21 Oct 2022

Mainfreight’s shares hit a recent high after the global logistics company flagged a solid first half, but that wasn’t enough to keep the benchmark index in positive territory. The S&P/NZX 50 index declined 34.86 points, or 0.3%, to 10,797.17. Across the main board, 43 stocks rose and 84 fell. Turnover was $104.6 million.Mainfreight climbed as much as 6.2% to $70.11, the highest since Sept 21, after saying it expected first-half revenue to be up by almost a third at $3.01 billion in the 26 weeks to Sept 30, with net pro...

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