Mainfreight shares hit $90 as market bounces

Mainfreight's air and ocean division has overtaken its transport business as the biggest contributor to earnings. (Photo: supplied)

Dan Brunskill

Wed, 02 Feb 2022

New Zealand's sharemarket lifted almost 2% on Wednesday as the benchmark equity index continues to bounce back from the worst start to the year since 2008. The S&P/NZX 50 Index rose 230 points, or 1.9%, to 12,289.64. Turnover was $152 million.Global logistics firm Mainfreight led the rally after an 85% jump in pre-tax profit, reported in a trading update, sent its shares up 6% to $89.99.Managing director Don Braid said the results weren’t surprising, reflecting a continuation of increasing freight volumes and trends se...

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