Mainfreight’s Australian business has overtaken New Zealand as the company’s largest contributor to profit and revenue, following a year of growth despite challenging global market conditions.
The global freight and logistics company reported a 31% lift in net profit to $274.3 million for the year ended March 31, 2025. That result came on the back of 11% revenue growth to $5.24 billion, although profit before tax slipped 3% to $383.6m due to rising property costs and competitive pressures.
Commenting in the firm’s latest annual report, chairman Bruce Plested reflected not only on business performance, but also on the wider social and political landscape.
“It is a trying time of poor behaviour and prejudice, we should be grateful for those political and business leaders who advocate and practice peace and tolerance, and adherence to civilised human values. This should include all of us, teachers, parents, aunties, uncles and team members,” Plested says.
Despite a slight dip in performance, he praised the company’s expansion and resilience.
“While the results of our company are marginally behind the progress we made last year, and that disappoints us, we should be proud of the business and the team for what they have achieved,” he says.
“We have not only increased our revenue, but have dedicated ourselves to substantial infrastructure development to enhance our future business capabilities.”
Plested says much of this infrastructure investment is focused on New Zealand, where the company is expanding with new cross-dock transport facilities and warehouses.
“These advancements distinguish us from our competitors, and ensure that we offer our customers exceptional service moving forward,” he says.
He also noted a key milestone in Mainfreight’s growth strategy.
“We celebrate that in the latest year, Mainfreight Australia has surpassed the profits of Mainfreight New Zealand. We are delighted with this success, which we believe shows our full acceptance in the Australian market.
“We also believe that other larger countries will come to view New Zealand and Australia as a single market.”
The company’s long-standing environmental and social programmes were also acknowledged, including rainwater harvesting, solar-powered branches, and support for literacy initiatives.
“[M]ost of our 337 branches around the world have sufficient solar panels to allow us to operate all electric forklifts and a number of electric trucks,” Plested says.
“Other opportunities are coming as battery storage improves, and surplus power is saved, not just returned to the supplier.”
Tariff upheaval
Group managing director Don Braid acknowledged the volatile global freight environment, shaped by tariff changes, trade lane disruption, and post-pandemic shifts.
“Sales revenues have improved by 11% to NZ$5.2 billion, recognising our ability to delight our loyal customers and attract new customers,” Braid says.
“If we thought the previous three years post-covid have been tumultuous across supply chain activity, then we are very likely headed towards the most disruptive year the world supply chain has experienced post-World War 2 due to tariff charges initiated by the USA administration.
“The current tariff upheaval is unravelling the efficiency of global trade finessed by companies over the last 60 plus years.
“No matter the country, or the outcome of trade negotiations, we will all need to readjust to trade tariff barriers changing supply trade routes, manufacturing and supply hubs,” he says.
Despite the 3% dip in profit before tax, Braid says Mainfreight is well positioned due to its global footprint, local infrastructure investments, and cross-divisional strength.
“Whilst our results in the year-ended 31 March 2025 disappoint us, we have continued to improve our infrastructure and capability alongside satisfactory revenue growth.”
“These new facilities highlight our continued investment in the very best infrastructure to enable our people to deliver ever improving service levels – not just in the immediate future, but pre-empting the growth we are pursuing.”
