The Markets

Mainfreight shares hit $90 as market bounces

Wednesday 2nd of February 2022

The S&P/NZX 50 Index rose 230 points, or 1.9%, to 12,289.64. Turnover was $152 million.

Global logistics firm Mainfreight led the rally after an 85% jump in pre-tax profit, reported in a trading update, sent its shares up 6% to $89.99.

Managing director Don Braid said the results weren’t surprising, reflecting a continuation of increasing freight volumes and trends see...

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