Subscribe today - find out more
Why you should consider BusinessDesk

Mainfreight Annual Shareholders Meeting 2021

Thu, Jul 29 2021 04:05 pm



26th Annual Meeting of Shareholders
4.00 pm, Thursday 29th July 2021


The year ended March 2021 produced the continuation of 11 consecutive years of record results.

• Record after tax profits, up $29M to $188M
• Global sales increased by $449M to $3.5B – this represents sales of $68M per week
• Income Tax payable for the year increased by $16M to $74M
• The discretionary bonus payable to our worldwide team increased by $17M to $44M
• Our 2021 annual dividend to shareholders increased by $16M to $75M

We increased our number of branches worldwide from 282 to 297 – with our presence still in 26 countries.

Climate change and the Covid 19 pandemic are creating huge challenges for the world; further complicated with growing aggression between some of the biggest countries.

Closer to home in New Zealand – with all our best efforts in education, only 60% of children are regularly attending school. In the past 20 years, we have dropped from being near the top of the world in reading and maths, to now being close to the bottom rung.
This is and will be a great catastrophe for New Zealand – if we are unable to produce the next generations of inventors, scientists, IT professionals, doctors, researchers, builders, engineers, farmers and entrepreneurs.

We are seeing reports daily in the media of a significant shortage of skilled workers, but also what are described as unskilled workers. Overseas countries have been supplying these additional people to our workforce temporarily, and we have grabbed them because they have skills and work attitudes and behaviour far superior to what we are producing in New Zealand.

If we do not reverse our declining allegiance to better and better education, over the next 25 years we risk becoming another rogue state, run by crime, gangs and corruption – already endemic in a number of small countries, which do not value or promote education.

We in New Zealand can do only so much to allay the bombast between the big and powerful countries – but we can, and must, succeed in massively increasing New Zealand’s commitment to attainment in education.

In closing, we acknowledge that it has been a very difficult year – particularly in the front line of our operations, and in countries where the Coronavirus was not as well controlled as here in New Zealand. Our thoughts and gratitude go to our global team for their outstanding performance in succeeding against so many difficulties.

We also acknowledge that at times our service levels were not up to the standard we are used to. We sincerely thank our many customers for their understanding and continued allegiance.

We would also repeat – as at our last AGM – that deep in our culture is a strength to challenge and overcome whatever circumstances are put in front of us. We are used to it, we enjoy it and it is why we come to work.


Please refer to separate PowerPoint slide presentation.

For further information, please contact Don Braid, Group Managing Director,
telephone +64 9 259 5503, +64 274 961 637 or email

Announcement PDF

Markets News

Markets market close
Shares close unchanged; Napier Port booted from NZX 50
Dan Brunskill | Fri, 03 Dec 2021

Index builders S&P Dow Jones today announced fleet management company Eroad would replace Napier Port in the benchmark top 50 index.

ForBarr sees Octagon shaped hole in fund management
Dan Brunskill | Fri, 03 Dec 2021

Octagon Asset Management is essentially a spin out of Forsyth Barr's existing funds management team.

PFI's portfolio has gained about $150m since June
Staff reporters | Fri, 03 Dec 2021

PFI has also bought a site in Penrose next to land it already owns, creating an about five-hectare estate.

Primary Sector
Fonterra CEO confident farmers will back proposal
Rebecca Howard | Fri, 03 Dec 2021

Farmers will vote on Fonterra’s proposed capital restructure at its annual meeting next Thursday.

Economy FREE
Talent famine looms large in director sentiment survey
Rebecca Howard | Fri, 03 Dec 2021

Fighting to attract and retain staff will be a clear focus for boards in the year ahead.

Primary Sector
Fonterra lifts forecast payout to record
Rebecca Howard | Fri, 03 Dec 2021

The new forecast is a range of $8.40-$9.00 per kgMS, up from a prior forecast of $7.90-$8.90 per kgMS. 

Wakeup Call FREE
Wakeup call: Ready, set, red
Bernard Hickey | Fri, 03 Dec 2021

Auckland reopens after over three months in lockdown, but it may not be enough to save many cafes, bars and restaurants because of the 100 person limits at the ‘red’.

Building a property portfolio with Winton
Paul McBeth | Fri, 03 Dec 2021

Here's a way the Sharesies generation can get their fill of property.

Markets market close
Omicron in the US hits market
Dan Brunskill | Thu, 02 Dec 2021

US investors chose to take some risk off the table and the main indices all turned negative in the final hour of the American trading session.

Morningstar picks Spark as omicron refuge
Dan Brunskill | Thu, 02 Dec 2021

Spark’s share price spiked more than 5% early this week as investors reacted to news of the variant, but it had been trending down, sliding more than 10% in the past three months.

Retail FREE
It's happening – Ikea coming to Sylvia Park
Staff reporters | Thu, 02 Dec 2021

Ikea is finally landing in New Zealand. Really.

Wakeup Call FREE
Wakeup call: NZ Bus up for sale
Bernard Hickey | Thu, 02 Dec 2021

Months after settling an extended industrial dispute with drivers in Wellington and being rebuked by its council clients, NZ Bus is being put up for sale again.

Markets market close
Omicron and inflation risks flatten share market
Dan Brunskill | Wed, 01 Dec 2021

US markets fell overnight after Jerome Powell told US Congress he wouldn’t describe inflation as “transitory” as it could linger into next year.

Winton delivers early Christmas present to NZX in $350m IPO
Paul McBeth | Wed, 01 Dec 2021

Macquarie will take a big piece of the action in Winton's Christmas initial public offering. 

Primary Sector
Synlait confident on guidance but not expecting much from A2 Milk
Rebecca Howard | Wed, 01 Dec 2021

Synlait Milk is expecting some recovery at A2 Milk but not expecting large increases in their production. 

Could Trade Window be the next Xero?
Dan Brunskill | Wed, 01 Dec 2021

The trade software firm is the latest in a proud tradition of low revenue NZX listings that have gone on to succeed, according to Clare Capital. 

Wakeup Call FREE
Wakeup call: talk of faster taper jolts stocks
Bernard Hickey | Wed, 01 Dec 2021

Global stocks are selling off sharply this morning after US Federal Reserve chair Jerome Powell appeared to abandon ‘Team Transitory’s’ view that inflation is temporary.

Markets market close
NZ shares bounce from omicron sell-off
Dan Brunskill | Tue, 30 Nov 2021

The quarterly reset of the massive MSCI indices put volume behind the local market’s rebound, with larger NZ stocks seeing elevated trading levels.  

Westpac's Aussie parent to pay A$113m in penalties
Staff reporters | Tue, 30 Nov 2021

Westpac's transgressions included charging the dead for advice.

Refining NZ raises $39m to expand storage
Ian Llewellyn | Tue, 30 Nov 2021

Refining NZ believes providing oil storage is a growth industry as the government looks at the possibility of increasing domestic strategic reserve stocks.

The next carbon auction: predicting the unpredictable
Ian Llewellyn | Tue, 30 Nov 2021

The fourth auction will offer up 4.75 million New Zealand units with the current spot price trading near $65.

Omicron ordeal knocks NZ index 200 points
Dan Brunskill | Mon, 29 Nov 2021

The worst of the damage was staved off as the index's largest stock Fisher & Paykel Healthcare climbed 1.3%. 

Me Today gone tomorrow without cash top-up
Dan Brunskill | Mon, 29 Nov 2021

The health and beauty brand needs more cash – and it's getting it, about $6 million, to offset lower-than-expected income from its honey buy.

Radius Care's first-half profit fell on rising employee costs
Staff reporters | Mon, 29 Nov 2021

Radius' employee costs rose 10.2% in the latest six months while its revenue rose 8.4%.