Addressing the shareholders at its AGM, founder and chairperson Bruce Plested said Mainfreights annual compound growth to date is 6045% or 21.6% per year compounding.
“Only one other NZX company has exceeded this rate of growth over 21 years,” says Plested.
He told the shareholder that Mainfreights financial results for the year ending March 31st, 2017 showed some very satisfactory aspects.
“Our global sales increased by NZD $49 million over the year – to $2.33 billion, our net profit after tax increased by $15 million over the year – to $103 million,” says Plested.
“We paid NZD $43 million in company taxation, a discretionary bonus of $19 million to our worldwide team and an annual dividend to shareholders of $40 million,” he says.
“I was pretty pleased when we began to see the possibility that we would create NZD $100 million dollars after tax profit for the full year. I know that all of us at Mainfreight felt special about that achievement,” says Plested.
“As investors in Mainfreight we should all be grateful for the commitment and dedication of our team of 7006 people, spread over 239 branches in 22 countries, who believe in our culture of hard work, quality and success – and make it possible,” he says.
