Mainfreight boosts profit by a fifth to $426.5m

Mainfreight Europe had its strongest trading result to date. (Image: Mainfreight)

Thu, 25 May 2023

A strong first six months was enough to steer Mainfreight to a 20% improvement in net profit after tax (Npat) to $426.5m for the year to March, despite weaker trading conditions in its US and Asian markets.That was largely in line with market expectations and reduced global freight volumes which year-on-year are down 8% across air-freight kilograms, 7% on sea-freight container volumes and 3% on custom clearances.The multinational transport and logistics operator, one of the NZ stock exchange’s biggest counters with a market capitalisation...

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