Natural disasters are responsible for lower than expected growth for transport and logistics company Mainfreight.
Its latest financial results show net profit is up 1.1% to $42.2 million for the six months ended September 30.
Total revenue increased by $83.15 million, or 7.3%.
“Whilst our financial results are again ahead of the year prior, we had expected a better performance in this first half of our financial year.
“Trading in our New Zealand domestic operations was impacted by the additional costs associated with servicing inter-Island freight movements via road and coastal shipping following the Kaikoura earthquakes of last November,” the statement says.
An interim dividend of 19 cents per share is up 2 cents from last year’s result.
“We expect to see current momentum to continue into the New Year, delivering improved 2018 full year results,” the statement says.
