
Mainfreight shares hit record high after earnings update
Logistics company Mainfreight had a strong first half.
Stories and analysis from The Northern Express Herald.
Mainfreight shares rallied by $2 on the back of its annual result and outlook.
Global logistics group Mainfreight has weathered the Covid-19 storm.
All 275 of Mainfreight's branches worldwide are open.
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Auckland-based Mainfreight's net profit rose 28 per cent to $137.6m.
The Auckland-based company recorded a net profit of $137.6 million.
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Mainfreight, the transport and logistics group, posted a 16pc gain in full-year profit.
COMMENT: Over nearly two decades of investing, I've noticed a strong link between founder-led companies and top performance.
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Mainfreight, the transport and logistics group, said two women, Kate Parsons and Sue Tindal, will join the company as non-executive directors starting on January 1.
Freight companies are turning to sea to deliver goods to the South Island in the wake of the week's earthquake.
Mainfreight managing director Don Braid says he will take on more trucks and ships in the lead-up to what he expects to be record
Mainfreight posted a 27 per cent gain in profit as margins improved in New Zealand, Australia, Asia and Europe.
Mainfreight chair Bruce Plested says taking the heat out of the housing market and paying teachers better can fix economic and social problems.
Mainfreight reported a 6.3 percent gain in full-year profit as improved trading in New Zealand.
Mainfreight co-founder Neil Graham has died, aged 71 - just days after talking of Rugby World Cup plans.
Mainfreight's big competitors, including European giants DHL and Kuehne + Nagel, are increasingly giving up market share to the NZ firm as its global clout increases.