Mainfreight’s continued global growth has seen a year-on-year net profit boost of NZ$13.12 million.
The company is reporting NZ$55.90 million net profit, up 30.7%, for the six months to September compared to the same period last year.
Its revenue for the period was up NZ$205.41 million (16.8%) to NZ$1.43 billion.
Earnings before interest, taxes, depreciation and amortization. (EBITDA) was up NZ$19.58 million (22.1%) to NZ$108.34 million.
The Kiwi firm’s offshore divisions (comprising of Australia, Asia, the Americas and Europe) made up 58.1% of EBITDA totalling $62.92 million.
Sales outside New Zealand also generated $1.09 billion (76.0%) of total revenue for the six month period.
The company points to its air and ocean division as contributing significantly to both revenue and EBITDA performance.
New Zealand revenue was up NZ$26.25 million (8.3%) to NZ$343.12 million. EBITDA was up NZ$6.98 million (18.2%) to NZ$45.43 million.
Australia revenue was up AU$48.79 million (16.7%) to AU$341.70 million. EBITDA was up AU$1.69 million (8.1%) to AU$22.52.
Asia revenue was up US$2.72 million (7.2%) to US$40.33 million. EBITDA was up US$1.15 million (56.6%) to US$3.17 million.
The Americas revenue was up US$34.10 million (16.8%) to US$237.15 million. EBITDA was up US$2.55 million (30.2%) to US$10.99 million.
Europe revenue was up EU€19.82 million (12.2%) to EU€182.33 million. EBITDA was up EU€2.00 million (23.8%) to EU€10.40 million.
“This first half result is satisfactory, compared with a somewhat muted result in the prior year, and provides us with a good platform for further improvement over the longer term,” the company says.
“To have all regions contributing improved financial and operational results is pleasing. Therefore it is our expectation that financial performance will continue to be better for the full year, delivering another improved full year profit.”
Mainfreight will release its financial results for the full 2019 financial year on May 28.
