Global logistics company Mainfreight has reported a significant slump in net profit and revenue.

Their result shows profits declined 42 percent, to $124 million- after a successful 2022.

CEO Don Braid says the company managed to have two really good years, as the company took advantage of unprecedented demand.  

"We're now heading towards a more normalised trading environment, freight volumes are down dramatically from the nutty period where we had economic stimulus from Governments around the world."

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