The Team's Board Report - Mainfreight

2
Managing Director’s Comment
Welcome to the Christmas edition of our
Newsletter.
As we write this newsletter we have just
completed the release of our half-year financial
results to the market. These results saw a 9%
increase in our net surplus before abnormals to
$15.72 million; a satisfactory result in light of the
challenging start we all had to the financial year.
As we head towards Christmas our performance
week by week has been better, and we are
expecting our third quarter to produce further
improved results. Thank you.
On 1 November we welcomed the Target business
to the Mainfreight family. Target Logistic Services
is an American company with 36 branches spread
throughout the United States. Target has 292
people in their team with services and products in
domestic freight, international freight and transborder
operations to Canada and Mexico. Sales
revenues last year totalled US$180 million. In the
last six years, sales growth has been strong and
has increased by US$100 million.
We are proud to have the Target team join our
family and are looking forward to developing the
business to further extend our reach across the
global supply chain.
It will be important that Target becomes part
of our global strategy working with and for the
Mainfreight network.
For us here at Mainfreight, no matter what country
or business, there is a valuable lesson in New
Zealand’s sporting demise. The reality is that the
world is a very competitive place, and to succeed
each and every one of us has to perform at our
best.
As we become an internationally recognised
business, so too will our competition increase.
There have been times in our past where we
have not performed as well as we should have.
We have managed to overcome these poor
performances through the hardworking efforts
of many. If we are to achieve our dream we all
must contribute our very best performances every
day, ensuring our customers are delighted at
every opportunity. No matter our personal role,
we all have the chance to contribute world-class
performance. Please play your part by doing so.
While it has been a challenging year, it continues
to be exciting and we continue to see a lot of
opportunity around us.
Enjoy the festive season with your family and
friends. Thank you for all your efforts to make
Mainfreight the Special Company that it is.
Merry Christmas.
Don Braid
During this past year, New Zealand has had
terrible results in a number of international
sporting events. We have failed to lift the
America’s Cup, the Rugby World Cup, the Cricket
World Cup, the Netball World Cup and our rugby
league team failed to beat the English. In all
events, New Zealand was confident of doing very
well. Sadly we were beaten by better teams on
the day.