NZ's Mainfreight down as HY estimated profit falls

Mainfreight

08/10/2024 03:27

** Shares of Mainfreight  MFT.NZ  slip as much as 0.9% to
NZ$69.76, their lowest level since Sept. 28 
    ** The NZ-based global logistics provider says estimated
profit before tax for HY25 declined 9.3% to NZ$158.5 mln ($97.27
mln)
    ** Adds, estimated revenue for HY25 improved 8.5% to NZ$2.55
bln
    ** Says U.S. East Coast and Gulf Coast Port issues will
create congestion issues
    ** Shares up 0.8% YTD as of 0206 GMT

($1 = 1.6295 New Zealand dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))