NZH: Mainfreight shares hit record high after earnings update

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The New Zealand Herald reports:

Shares in Mainfreight hit a record high after the company said its first half pre-tax profit is estimated to have leapt by 23.4 per cent to $102 million.

The global logistics company said it remained optimistic about the outlook.

After 30 minutes the stock was at $51.25, up $2.5 or 5.7 per cent on Tuesday’s close.

(All numbers in local currency, NZ$, ex %.)

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Some additional background about the (unexpected) update is here: “Mainfreight expects 23% increase in first half profit“.

Its interim numbers are due 11 November.