11 Nov 2014

Mainfreight Group profit up

6:01 pm on 11 November 2014

Mainfreight Group has made a net profit of $33.5 million which like-for-like is up on last year's result. Total sales increased by 3.6 percent to $987 million.

While underlying profit rose almost 13 percent in the six months ended September, the result for the international transport company was below market expectations.

However, the group managing director, Don Braid, said that although he would have expected a stronger performance in August and September, peak season volumes are strong and sales are expected to exceed $2 billion for the year ending in March.

Mr Braid said that will deliver an improved annual profit result.

"Satisfactory result by our standards. I guess we've had improving performances from all five continents really," he said.