Industry News

Mainfreight maintains momentum

Multimodal freight provider, Mainfreight, has reported another year of record financial results.

The results marked the continuation of 11 consecutive years of record results for Mainfreight including record after-tax profits of $NZ188.11 million which was an increase of $NZ29 million compared with the previous financial year.

Global sales increased by $NZ449million to $NZ3.5billion, representing an increase of 14.5 per cent over the previous reporting year.

Mainfreight increased its number of branches in the 26 countries where it has a presence worldwide from 282 to 297.

“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,” said Mainfreight Chairman Bruce Plested.

“Our thoughts and gratitude go to our global team for their outstanding performance in succeeding against so many difficulties.”

Revenue from the company’s Australian operations reached $877million. In Australia, Mainfreight has 2,142 people spread across 62 branches.

Sustainability is an important value to Mainfreight with almost 10,000 solar panels producing 2,855kW of electricity. A number of electric trucks are currently being trialled in New Zealand with the program to come soon in Australia.

In his presentation to the annual general meeting held 29 July 2021 at Eden Park in Auckland, Mainfreight Group Managing Director Don Braid forecast a planned property capital expenditure program during the current NZ financial year of $NZ226.2million including new owned buildings and fitouts of leased premises at a number of locations in Australia.

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