Mainfreight has announced its full year financial results to 31 March 2019 in what the company has referred to as its “best-ever” results. Highlights include:
- Revenue $2.954 billion Up $337.39 million or 12.9 per cent
- EBITDA $257.05 million Up $41.94 million or 19.5 per cent
- Net profit (before abnormals) $141.08 million Up $29.08 million or 26.0 per cent
- Adjusted for foreign exchange impact, revenue is up 10.8%, and EBITDA up 18.0 per cent
Specifically for Australia, the company reports a revenue of AU$710.17 million, up AU$86.90 million or 13.9 per cent.
According to a statement released by the company the organisation has a relatively slow start to our financial year, but ends with satisfactory full year results.
The statement reveals plans are underway for additional domestic freight facilities in Sydney and on Queensland’s Sunshine Coast and construction of a new Adelaide facility is expected to commence late 2019.
In the Logistics business, four new warehouses were opened with an additional AU$12 million of new business.
Mainfreight’s standing in the premium beverage sector continues to grow. New warehouse business has in turn flowed into domestic freight tonnage.
Additional warehousing capacity is planned in the coming year for Brisbane, Sydney, Melbourne and Perth, including purpose-designed capacity to aid warehousing of retail dangerous goods, which will be complemented by our specialist dangerous goods transport business, ChemCouriers.
In addition, the Air & Ocean business improved both its sales growth and profitability over the prior year, with a strong emphasis on export related growth, particularly in the perishable airfreight sector. As with the balance of our Air & Ocean network globally, there is an emphasis on the development of LCL consolidation activity, the statement concludes.