Mainfreight Says Nine-Month Profit Rises 27% on Sales

Feb. 10 (Bloomberg) -- Mainfreight Ltd., New Zealand’s largest trucking company, said net income rose 27 percent in the nine months through December, buoyed by higher sales.

Net income rose to NZ$34.6 million ($27 million) in the period ended Dec. 31 from NZ$26 million a year earlier, the Auckland-based company said in a statement. Sales increased 20 percent to NZ$1.01 billion.

“This result reflects the satisfactory trend of improved earnings and revenue growth seen earlier in the year,” the company said in the statement.

While early fourth-quarter trading has been difficult to measure, the company expects the improvements seen in the nine-month period will continue in the three months through March, it said. Weather conditions have had “short-term effects” on freight movement, particularly in Queensland, Australia, the company said, without adding details.

To contact the reporter on this story: Chris Bourke in Wellington at cbourke4@bloomberg.net

To contact the editor responsible for this story: Iain Wilson iwilson2@bloomberg.net