Mainfreight reports slight half-year financial improvement

Mainfreight has reported a marginally better half-year financial result for the six months ended Sept 30, 2024, compared to its estimated guidance.

Revenue increased by 8.4% to $2.55 billion, while profit before tax decreased by 7.8% to $161.2 million.

Net profit was down 8% to $114.56m.

Adjusted for foreign exchange impact, group revenue was up 9%, while profit before tax and net profit were down 7.7% and 7.9%, respectively.

Operating cash flows increased to $191.7m from $186.8m.

The company said the small improvements in profit before tax came from all regions, with the majority from its New Zealand business units.

An interim dividend of 85 cents per share was approved by the directors.