The transport and logistics company Mainfreight has asked for right rates and services while criticizing the government’s lukewarm response to their genuine demands.
The global financial crisis cost the firm very dearly and its first year surplus declined 29 per cent. However, it is optimistic about financial results for the current financial year as transportation activities have started to pick up due to initial signs of recovery.
The firm reported a net profit of $12.18 million during the first half upto September 30.
Group’s Managing Director Don Braid expressed satisfaction over its performance across all regions except in USA. However, recovery waves are likely to fill the past gaps in the forthcoming quarters.
Braid said, “We believe the market will be fragile for the first quarter of calendar 2010 therefore we remain focused on improving margins and sales growth with strong sales campaigns.”
Forsyth Barr analyst Rob Mercer informed that the group managed to report first half year EBITDA of $29.4 million, thanks to the contribution by the company’s Australia Domestic operation.
Mercer added, “The biggest positive in the result in Australia Domestic which is coming off a poor year and is a key driver of Mainfreight’s medium-term growth prospects and our valuation.”