14 February 2012

Financial Results for the Nine Months Ended December 2011

Flying M LogoMainfreight is pleased to report a record net surplus after taxation and abnormals of $46.75 million for the first nine months of the 2012 financial year; an increase of 34.9% on the previous year’s result of $34.65 million. Excluding abnormals ($0.51 million after tax) the increase was 36.4%.

 EBITDA performance was also at a record level for a nine month result breaking $100 million for the first time, an increase of 50.9% to $101.02 million.  This is despite a poorer-than-expected third quarter performance where freight volumes and returns only matched the prior year levels.

Despite the lower than expected third quarter, we remain satisfied with this record nine month result.  Trading into the fourth quarter has begun positively and we are confident of further improvements and increased trading through to our year end.  In addition, market share gains have been made across most business units providing increased confidence in trading levels through 2012 and 2013.

 More importantly, we remain well positioned for further growth during the 2012 and 2013 trading years.

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