Mainfreight is expecting a strong improvement on revenue and profit for its next half year result.
The NZX-listed company has provided a market update covering 26 weeks of trading ahead of its half year result to be announced on November 10.
Estimated revenue for the 26 weeks has improved 32.5% to $3.01 billion.
Estimated profit before tax for the 26 weeks has improved 66% to $301.7 million.
Trading through to September has shown good momentum, the company says. All divisions trading are ahead year-to-date.
Across its transport division, the company is reporting “consistent tonnages” for the period with strong sales pipelines and tender opportunities.
Strong trading was also experienced for air and ocean with new business gains helping offset the expected global shipping rate re-set. The company says the focus is on strong rate and capacity management as supply chains readjust to changing consumer demand.
For warehousing, activity levels are improving into peak season. It reports significant capacity is coming on-line in the second quarter of 2023 with a strong sales pipeline and market opportunities.
