According to the company’s latest annual report, New Zealand-based Mainfreight has seen Australian revenues increase by 5.8 per cent over the previous year to AU$458.47 million, with the EBITDA improved by 15.5 per cent to AU$35.19 million, according to its Annual Report.
Despite the need to address issues relating to difficult parcel freight in the Australian transport operations halfway through the financial year, Mainfreight’s Australian business continued to grow in stature and has become a significant contributor to the Group’s profitability and capability.
The Report acknowledged the investment in new facilities on both sides of the Tasman. “In New Zealand, our network intensity and investment into world-class facilities is providing ongoing growth in a region where we already hold a significant market share; a compelling blueprint as we build our network in other regions of the world,” the company said.
“Our presence in Australia mirrors that of New Zealand; our capital investment in better facilities for our people and our customers for world-class supply chain services is well under way. We expect sales revenues and profitability from Australia to eclipse those of New Zealand in the not too distant future.”
Overall, Mainfreight’s annual report revealed that the company recorded full year net profit after tax and abnormal items for the year ended 31 March 2014, with an increase of 36 per cent over the previous year.
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