Mainfreight – Where's the next boost coming from?
Look beyond
GOOD RETURNS reports:
(…)
Mark Lister, head of private wealth research at Craigs Investment Partners, told BusinessDesk that Mainfreight had the “best performance” of the day thanks to its positive trading update and the rest of the New Zealand market had enjoyed the positive flow through from US markets overnight.
“We’re very beholden to what happens in international markets and at the moment that’s good because markets are in an optimistic mood and we’re seeing a bit of a rebound after a pretty ugly six months in NZ,” he said.
At Mainfreight’s annual meeting today, group managing director Don Braid told shareholders that in the past 16 weeks from April 1, group revenue was up by 32.5% to $1.4 billion, and profit up 82.9% to $178.83 million.
The result was driven by an increase in US revenue by 41.4% to US$257.5m and profit of US$37.20m, Braid said.
The company’s shares rose 6.3% to $75.50, up $4 from yesterday.
($ = NZ$)
The full post can be read here.
OOCL box ship in Red Sea hit by rocket fired from a drone
Carriers roll out new ancillary charges – 'we're going to need every dollar'
Failure of GRIs means a tough time for carriers in new-contract talks
DB Schenker – top board member exit rumoured
Maersk sails into the charter market as it prepares for independence
Carriers likely to follow MSC and hike ancillary charges on Indian exports
Interest in sea-air services on the rise, with new tech on the way to help
Alex Lennane
email: [email protected]
mobile: +44 7879 334 389
During August 2023, please contact
Alex Whiteman
email: [email protected]
Alessandro Pasetti
email: [email protected]
mobile: +44 7402 255 512
Comment on this article