Mainfreight Limited (NZX: MFT) Full Year Results to 31 March 2021

Wednesday 26th May 2021

Mainfreight is pleased to announce our full-year financial results to 31 March 2021, a record result and a satisfactory improvement on the year prior. Sales revenues for the year increased 14.5% to $3.54 billion, and net profit before abnormals by 27.1% to $188.11 million. Profit before tax was $262.41 million, increasing by 27.2%.

Dividend

After consideration, the Directors have approved a final dividend of 45.0 cents per share fully imputed at the 28% company tax rate. With the record date on 9 July 2021; payment will be made on 16 July 2021. This brings the full dividend for the year to 75.0 cents per share, an increase of 27.1% over the prior year, and reflects improved trading results and confidence looking forward.

Discretionary Bonus

In light of exceptional performance by our people in difficult operating conditions around the world, and in line with the profit improvement achieved, our discretionary profit bonus has increased to $43.88 million, up 60.8% from $27.29 million for the year prior. We also increased our team Christmas bonus for 2020, up from $5.35 million to $11.02 million.

We remain proud of our team’s achievements and are pleased to share our profits with those who contributed to them.

Outlook

This is a significant result for the Mainfreight family. Not only have we achieved a record profit before tax of $262 million, grown revenues to exceed $3.5 billion, and net profit before abnormals of $188 million – all during 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. Our business model has been resilient and effective.

Mainfreight will release its financial results for the first half of the 2022 financial year to the market on 11 November 2021.

Please see the links below for details

Mainfreight Full Year Financial Results to 31 March 2021

Mainfreight - Full Year 2021 Commentary

Mainfreight - Distribution Notice - 31 March 2021

Mainfreight - Full Year 2021 Presentation

Source: Mainfreight Limited

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