Mainfreight demonstrates positive financial performance

International transport and logistics company, Mainfreight, has released its 2023 annual report.

In financial year 2023 (FY23), Mainfreight reported a total revenue of $5.7 billion NZD (approx. €3.2 billion) – an 8.8 per cent increase from the year prior.

Profit Before Tax (PBT) was recorded at $587.4 million NZD (approx. €275.6 million) and net profit at $426.5 million NZD (approx. €241.2 million) – both a 20 per cent increase year-on-year (YOY).

Among the results, Mainfreight achieved a record after tax profit for the year ending March 2023.

“An increase of $71 million over the previous year is very satisfactory and is a huge credit to the global Mainfreight family,” said Mainfreight founder and Chairman, Bruce Plested.

“These past two years have seen Mainfreight generate ever increasing revenue and profits because of a very volatile and difficult congested freight network.

“This volatility has grown our business and provided opportunity not experienced before in. our lifetime.”

Mainfreight Australia reported a revenue of $1.4 billion AUD – a 20.6 per cent increase from $1.2 billion the year prior.

PBT was 27.3 per cent higher than FY23 at $136.8 million AUD.

Mainfreight Group Managing Director, Don Braid, said Australia was the company’s best performing region.

“Our Australian team took advantage of increased freight volume across all key three business units,” he said.

“The continued industry consolidation of the express pallet transport segment is providing opportunities, as is the increasing customer requirements for greater levels of service.”

In other news, Asia-Pacific’s largest asset management company, ESR, has just completed construction on its first in-built cold storage facility in a cold chain industrial park in Sichuan, China.

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