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...

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