10 November 2011

Financial Results for Six Months to September 2011

The Mainfreight Group is pleased to report a record net surplus after taxation and abnormals of $29.08 million for the first six months of the 2012 financial year; an increase of 76.6% on the previous year’s result of $16.47 million. Excluding abnormals ($0.51 million after tax) the increase was 79.7%.

EBITDA performance was also at a record level for a first half result: $64.37 million, up from $35.13 million for the same period last year.

Total revenue (sales) increased 38.4% to $892.90 million from $644.94 million in the comparative period last year. (Excluding foreign exchange effects, this represents an increase of 42.9%).

Excluding Wim Bosman Group results, Mainfreight Group’s revenues improved by 4.8% (adjusted for foreign exchange, the increase is 9.3%), and EBITDA results were up 30.5% (excluding foreign exchange, 33.9%).

The second quarter has been a repeat of our first quarter results, with sales growth and enhanced profitability across most divisions in the Group. In particular, we achieved strong profit growth in our Australian Domestic operations. This trend of Group-wide improvement shows no sign of abating as we head into our third quarter with its traditional seasonal peaks.