Mainfreight (MFT) H2 2026 earnings summary

Executive summary

• Revenue increased 2.8% year-over-year to $5.38 billion, while net profit declined 8.5% to $251.0 million.

• Second half performance improved, with profit before tax rising to NZ$219.2 million from NZ$131.7 million in the first half.

• Discretionary bonuses totaling $46.3 million were paid to qualifying branches.

• Workforce and branch count decreased, reflecting operational streamlining.

Financial highlights

• Profit before tax was $350.9 million, down 8.5% year-over-year.

• Net capital expenditure reached $189 million.

• Operating cash flows were NZ$589 million, slightly up from NZ$584 million last year.

• Net funds increased to NZ$26.6 million, with bank debt reduced by NZ$24.5 million.

Outlook and guidance

• Improved second half momentum continued into April/May, with market share gains and better trading conditions.

• Ongoing investment in network development and supply chain solutions.

• Cautious outlook due to expected inflationary pressures and elevated fuel prices.