Big Start by Mainfreight

Big Start by Mainfreight

The Mainfreight Group has reported a net surplus after taxation and abnormals of $6.82m for the first three months of the 2011 financial year; an increase of 148.2% on the previous year’s result of $2.75m (excluding abnormals the increase was 69.5%).

Total revenue (sales) increased by 20.5% to $315.2m, from $261.67m in the comparative period last year (excluding foreign exchange, this represents an increase of 27.8%).

EBITDA increased 32.4% to $15.52m, up from $11.72m the year prior.

“Business performance in all countries where we are domiciled; New Zealand, Australia, China and The United States during the first three months of the financial year improved following the trading trend of the previous six months,” says group managing director Don Braid.

Braid has been careful to hose down overly exuberant expectations given the ongoing softness of home markets in Australia and New Zealand, says investment news site www.headliner.co.nz

But the solid start will be seen by the market as quite encouraging especially as it indicates the improving state of other economies, says Headliner.

Further details: www.headliner.co.nz

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