Concept time is money.


Mainfreight Ltd. said it expects growth in revenue and earnings to revert to normal levels after global supply-chain congestion helped to nearly double its full-year profit.

The company on Thursday reported net profit of 355.4 million New Zealand dollars ($230.3 million) for the financial year ended March 31, up 89% from the year before, helped by increased air and ocean freight rates.

“We do not expect the quantum of profit improvement of this past year to reoccur in the short term,” Mainfreight said. “Rather we anticipate we will revert to our normal levels of revenue and profit growth.”

Now read this: “Mainfreight revenue passes NZ$5 billion, delivers record profit“.

All you need to know about its performance can be found here.

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