Mainfreight Limited (MFGHF,MFT.NZ), a New Zealand logistics and transport company, reported Thursday lower profit in fiscal year 2026, mainly due to higher labour and other expenses, despite higher revenues. Further, the firm announced dividend, and said it is confident of improved trading in fiscal 2027.
In New Zealand, Mainfreight shares were trading at NZ$62.22, up 6.09 percent.
In the year ended March 31, net profit dropped 8.5 percent to NZ$251.00 million from NZ$274.34 million last year. Earnings per share were 249.26 cents, down from 272.44 cents a year ago.
Profit before tax fell 8.5 percent year-over-year to NZ$350.9 million.
The firm noted that though annual profit declined from last year, profit performance improved during the second half of the year.
Revenue, however, grew 2.8 percent to NZ$5.38 billion from NZ$5.24 billion last year.
Net funds as of March 31 was NZ$26.6 million, compared to NZ$14.4 million last year
Further, the Directors have approved a final dividend of 87.0 cents per share, payable on July 17 with the record date on July 9. The full year dividend would be 172.0 cents per share.
Regarding the current trading, Mainfreight said the improved trading conditions in second half have continued, and April and May trading has been encouraging, despite disruption and uncertainty caused by the Middle East conflict and elevated fuel pricing.
Looking ahead, the company said, "Whilst we are disappointed that this year's result was below our expectations, we remain confident of ongoing improvement in the year ahead and will be continuing our network and facility expansion as a consequence."
Mainfreight expects to update current trading performance during Annual General Meeting on July 30.
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