‘Lack of ordering’ - Mainfreight’s freak fortunes finding a floor

Mainfreight’s Don Braid hopes to hold onto as much pandemic-fueled revenue as possible. Supply chain chaos has pushed global logistics company Mainfreight’s annual revenue above $5.5 billion, but those fortunes could falter as freight volumes decline. “Part of that is about, I think, de-stocking and a lack of ordering, by importers, retailers,” Mainfreight managing director Don Braid told Markets with Madison. In the year to March, Mainfreight’s (MFT) volumes began dropping, with total air freight kilograms down 8 per cent and the number of sea freight twenty-foot containers down 7 per cent. Watch Braid discuss Mainfreight’s moderation, its $676 million capital investment plan and succession plans, on today’s episode of Markets with Madison above.