Mainfreight profit slumps, ‘should have performed better’
But in an industry that is experiencing significant contractions following pandemic highs, analysts think the results are broadly in line with market expectations.
Key takeaway: The first half of the financial year was brutal on the company, but it saw significant improvement in the second half with Australasia driving much of the success, offset by a very weak performance in the US.
NZX-listed transport company Mainfreight’s full year results for 2024 have dropped sharply after record highs in 2022-23.
The pandemic caused global supply chain disruption leading to a massive spike in prices from 2020 to 2023. The environment is now ‘normalising’ leading to a massive drop
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Key takeaway: The first half of the financial year was brutal on the company, but it saw significant improvement in the second half with Australasia driving much of the success, offset by a very weak performance in the US.
