Mainfreight has announced its full year financial results for 2024.
The period saw much growth for the logistics company which experienced a revenue increase of 11 per cent to $5.24 billion NZD (approx. $4.86 billion AUD).
Net profit was 31 per cent higher year-on-year (YOY) at $274.3 million NZD (approx. $254.4 million AUD), while profit before tax (PBT) fell by three per cent to $383.6 million NZD (approx. $355.7 million AUD).
This growth was exclusively delivered from Mainfreight’s Australian business which was the international company’s best performer.
“This is a satisfactory result, assisted by a pleasing performance from our Australian operations, which has become our largest revenue and profit contributor,” Mainfreight said.
Mainfreight’s three core products – Transport, Warehousing and Air & Ocean – all experienced revenue increases.
However, only its warehousing sector experienced an increase in PBT, to $63.59 million NZD (approx. $58.99 million AUD).
Company directors approved a final dividend of 87.0 NZD cents (approx. 81.0 AUD cents) per share, making the full dividend for the year 172.0 (approx. 160 AUD cents) per share.
Mainfreight’s operating cashflows have been reported as $584 million NZD (approx. $542 million AUD) compared to $508 million NZD (approx. $471 million AUD) the financial year before.
The company’s net capital expenditure for the financial year was reported at $234 million NZD (approx. $217 million AUD), more than what was predicted halfway through the year.
Roughly half of this amount – $111 million NZD (approx. $103 million AUD) was spent on property.
In other news, Freighter Group has opened a new purpose-built facility in Brooklyn, Victoria.
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