Global transport company Mainfreight has reported a record profit with strong gains in revenue, despite disruptions to international supply chains.
Mainfrieight says the result was significant considering a "tumultuous time" in world history. Photo: RNZ / Samuel Rillstone
Mainfreight's full-year net profit rose 18 percent to $188.1 million in the year ended in March, while the underlying net profit rose more than 27 percent to $262.4m.
Sales for the year rose 14.5 percent to $3.54 billion.
Mainfreight said it was a significant result considering a "tumultuous time" in the world's history.
"We have achieved this with success in every one of the five regions where we are located," it said in a statement to the market.
"Our business model has been resilient and effective."
Business outside of New Zealand contributed 76 percent of the sales and 63 percent.
The company said the first seven weeks of trading into the 2022 financial year had achieved similar
activity levels as those in the past six months, which gave it confidence of delivering improved results in the near term.
However, it warned uncertainty continued.
"It is our view that the heavily inflated shipping and air cargo rates will continue to be a feature of global trade while freight demand is exceeding air and sea capacity.
"Service levels need to improve, and with heavily congested supply chains affecting the world's freight lanes, we have much to achieve on behalf of our customers."