New Zealand's Mainfreight hits 3-week high on upbeat full-year outlook

Mainfreight

02/05/2025 24:57

** Mainfreight MFT.NZ jumps 9.9% to NZ$60.65; on track for biggest intraday pct gain since May 27, 2020

** Stock hits highest since April 11

** Global logistics provider expects FY profit before tax and sales revenue to beat market consensus expectations of NZ$375 mln ($221.5 mln) and NZ$5.1 bln, respectively

** Says bookings for May on China to U.S. route impacted by tariff negotiations but export trade from Europe, Australia, New Zealand and Southeast Asia remains largely unaffected for now

** About 178,425 shares traded, 2.2x the 30-day avg

** MFT falls 17.5% YTD

($1 = NZ$1.6929)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))