Annual Report 2013 - Mainfreight

We continue to work hard
to further our sales efforts,
particularly for more
in-country growth.
21.7%
Growth in EBITDA
Our Asian operations and presence have
continued to develop and grow this past year.
We now have eight branches located within
China, a further three branches in the Asia
region in Hong Kong, Taiwan and Singapore,
with a number of additional locations
pending.
Irrespective of the slowing economic
conditions and growth rates of China and
its close neighbours, there remains an
abundance of freight and supply chain
logistics opportunities for us to take
advantage of. We are also seeing trading
terms changing within China, moving from
FOB sales to C&F. Import opportunities also
continue to grow.
As labour rates fluctuate and/or increase in
a particular region, manufacturing sourcing
changes, and our presence throughout
the region will be the key to giving our
customers the most comprehensive
operational coverage possible.
Financial performance for the Asia business
in this past twelve months once again has
exceeded the prior year, albeit at levels
below our expectations given the scope
of the opportunities available. We continue
to work hard to further our sales efforts,
particularly for more in-country growth for
both export and import tonnage.
Of importance will be the growth of our
Asia/Europe/Asia trade lanes; it is those
prospects, amongst others, that encouraged
us to acquire our European operations.
16 Mainfreight | Annual Report 2013