NZ's Mainfreight extends gains on upbeat FY results

Mainfreight

27/05/2020 24:00

** Shares of Mainfreight Ltd  MFT.NZ  rise as much as 2.5%
to NZ$36.90, set for their third consecutive session of gains
    ** Freight services provider reports FY20 net profit of
NZ$156.1 mln ($96.74 mln), up 10.6% from the previous year 
 urn:newsml:reuters.com:*:nNZWHq8cJ
    ** Posts FY20 revenue of NZ$3.10 bln, up 4.8% from previous
year; declares a final dividend of 34.0 NZ cents 
    ** Co expects capital expenditure for FY21 to be about NZ$80
mln; says it remains 'cautiously optimistic'
    **Shares of co see their best day in more than a month
    ** Stock among biggest percentage gainers on the NZX 50
index  .NZ50 
    ** Stock had dropped 15.3% this year, as of last close

($1 = 1.6137 New Zealand dollars)

 (Reporting by Deepali Saxena)
 ((Deepali.Saxena@thomsonreuters.com;))