Mainfreight Moves to 6 Monthly Reporting
Mainfreight’s Annual General Meeting of Shareholders was held on Thursday 26th July 2012 in Auckland. As a publicly listed company this is a requirement, and shareholders are given the opportunity to ask questions during the meeting. This is an opportunity to not only discuss the previous year’s trading, but also to talk about our strategy, goals and directions.
This is also an opportunity for our shareholders to meet our Board of Directors after the meeting. Our management team are also on hand and welcome the opportunity to discuss the day to day operations of the business.
Why Half Yearly Reporting?
At this year’s Annual General Meeting Don Braid, Group Managing Director highlighted the intention to move from quarterly to half-yearly financial reporting. Don Braid said “it is now appropriate to move to half-yearly reporting to better reflect trading patterns of a global organisation. This will eliminate the inconsistencies that have been a focus of quarter on quarter comparisons”
Historically Mainfreight have reported quarterly, providing earnings transparency which was valuable during our development years in New Zealand and Australia, where seasonality is consistent and easy to explain.