Mainfreight shares hit record after upbeat AGM

Fri, 31 Jul 2020

Mainfreight shares hit an all-time high of $46.95 in early trading following a strong trading update and upbeat annual meeting yesterday. Shares of the global logistics firm gained 7 percent when the market opened this morning, and are up 10.5 percent so far this year, valuing the business at $4.27 billion. Yesterday, Mainfreight said it had turned around slowing progress in Australia, with the division lifting pre-tax profit 167 percent to A$17.9 million in the 17 weeks ended July 26 on a 13 percent increase in revenue to A$287.9 millio...

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.

Already a Subscriber ? Sign in here.

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 }}

The Quiz Free

QuiznessDesk, Thursday, Oct 09

Think you're clever enough?

The Quizmaster 9:15am

Primary Sector

Why NZ's US tariff rates could rise on a whim

NZ's trade surplus with the US is likely to go up. Donald Trump won't like that.

Greg Hurrell 5:00am

Why NZ's US tariff rates could rise on a whim

Technology

The AI 'canary' in the consulting coal mine

Audit and advisory firms are largely keeping quiet about their AI safeguards.

Dileepa Fonseka 5:00am

The AI 'canary' in the consulting coal mine

Sponsored

Why New Zealand organisations need to rethink their cloud strategy

New Zealand organisations have embraced cloud computing over the past decade, but many are now confronting a sobering reality: adoption alone isn’t enough. According to Datacom’s 2025 Cloud & Infrastructure Report, only half of New Zealand businesses say they’ve realised the benefits they expected from cloud – despite significant investment.

Datacom

Sponsored