10 Nov 2011

Mainfreight profit helped by strong sales

6:41 pm on 10 November 2011

Strong sales have boosted transport firm Mainfreight's half year profit to a record $29.1 million.

Profit for the six months to 30 September surged 76% on this time last year and included the first results from its European acquisition Wim Bosman.

Sales rose 38% on the same period last year to $893 million.

Managing director Don Braid says the Australasian domestic operations stand out.

However, Australia International is the only division for which revenues dropped due to falling export volumes and a loss of market share.

He says despite weakening global economic conditions the company is still finding growth.

"Where possible we are being aggressive with sales, looking to look after our customers, and it seems to be working for us."

Sales in Mainfreight's USA division rose 19%, revenues were static in its CaroTrans wholesale network and results were mixed for its Asia business.

Don Braid says Mainfreight expects to see more growth through the third quarter.

Shares in the firm fell 12 cents to $10.10.