Newsletter #363 (View other news stories)
Profits increase for logistics company
AUCKLAND, New Zealand
Thursday, 5 Jun 2008
Australasian-based freight and logistics giant Mainfreight last week reported its financial results, recording a record net surplus after taxation of NZD40.81 million for the 2007/8 financial year. This represents a NZD5.41 million, or 15.3% increase when compared to the same period last year.
A further NZD60.54 million of abnormal gains from the sale of Mainfreight's interests in LEP and Pan Orient businesses brings the total net surplus for the year to NZD101.62 million.
Strong performances from all operations contributed to the increase, other than in domestic operations in Australia where additional costs were incurred to prepare for further growth.
Trading was strong going into the new financial year, Mainfreight said.
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