Mainfreight growth despite economy


New Zealand-based transport and logistics group Mainfreight reports strong financial results for the previous six months

New Zealand-based transport and logistics group Mainfreight has reported strong financial results for the previous six months, despite the economic downturn.

The company has reported its international supply chain business, which listed on the New Zealand Stock Exchange in 1996, grew 37.3 percent to $95.1 million over the period.

Group Managing Director Don Braid says the decline is primarily in the warehousing division, "where costs continue to be incurred as we increase our warehousing footprint".

The company’s Australian interests saw sales revenue increase with the acquisition on Halford International, up 40.6 percent to $94.74 million.

But trading from Halford "has been disappointing particularly during July", with the company citing the slower than expected integration of the new business for the outcome.

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