29 May 2024

Mainfreight Financial Result for the twelve months ended 31 March 2024

Mainfreight have provided you with a copy of its financial statement to 31 March 2024 and additional related documents as released to the market via NZX.

Our headline results are as follows:

• Total Revenue $4.72billion, down 17%
• Profit before tax $395.4 million, down 33%
• Net profit $277.9 million, down 35% 

This result is in line with our expectations as freight volumes and international sea and air freight rates normalise from the peaks experienced during 2022/2023. We are satisfied with the momentum and progress in New Zealand and Australia, but remain disappointed with our performances in Asia, USA and Europe, where our market share remains small.