Managing director Don Braid said the result was pleasing, particularly in light of supply chain congestion and ongoing lockdown disruptions in most of Mainfreight's markets.
He attributed the strong result to contributions from Mainfreight's operations in 26 countries in five regions rather than a single business standout achievement.
"That is consistent with what we want to achieve long term, and we have seen that in this result."
Air and ocean revenue in all regions increased due to higher air and sea freight rates and an increase in freight tonnage as a result of market share gains and consumer demand, he said.
"The air and ocean performance has been exceptional, albeit a really tough result for our people to achieve given the shortage of [space] in sea freight and air freight," Braid said.
Mainfreight's exposure to 26 different countries had provided a significant competitive advantage.
Operating cash flows were $178.4m, down from $188.5m in the previous period. This reflected supply chain congestion and freight rate increases in the air and ocean division, increasing the company's working capital requirements.
Net debt was $115.7m, an increase of $13.5m on the same period last year.
Gearing ratios were stable at 8.8 per cent.
Net capital expenditure totalled $92m. The capital spend expectation for the full financial year ending March 31, 2022 was in the range of $208m. A further $290m was estimated for capital expenditure in the 2023 financial year.
In Mainfreight's divisional performances, the New Zealand operation posted a 31.6 per cent lift in revenue to $498.4m, and profit before tax of $48.07m, up 28.2 per cent.
On the outlook for Christmas freight deliveries in a disrupted New Zealand supply chain, Braid said the company was asking customers to lengthen their expectations and travel time.
"It's a just-in-case situation, not just-in-time.
"Volume in the network is high and hasn't been helped by having only one ferry on the Cook Strait. That's extremely frustrating for inter-island transfers of freight."
The Australian business continued to show increasing growth and profitability, mostly from increased market share, said Braid.
Revenue of A$525.04m was 30.2 per cent up on the same period last year, while profit before tax lifted 45.7 per cent to A$44.5m.
Intensification of Mainfreight's domestic transport network across the Tasman continued, with three more regional branches expected to open in the next 12 months. New warehousing for Sydney, Melbourne and Adelaide was under construction and additional capacity was being negotiated for Brisbane.
In European operations, revenue lifted 34.4 per cent to 260.4m euros, while profit before tax was up nearly 78 per cent at 12.5m euros.
Asian operations recorded a 157 per cent lift in revenue to US$110.3m, and profit before tax rose 189.2 per cent to US$11.5m.
Braid said this result was again a reflection of consumer demand. "But we've also been able to find some traction in our Southeast Asian operations which have been relatively small in the past. We've been able to find some market share, particularly in Thailand and Vietnam for example."
The Americas business posted a revenue lift of 78 per cent to US$441.4m. Profit before tax was US$34.8m, an increase of US$309.7m.
"There's no doubt the performance of air and ocean businesses in America has been extremely pleasing and that's a factor of what we call the trans-Pacific eastbound from Asia into America. And our ability to find space on behalf of customers to serve that busy trade link," Braid said.
The company's network intensification continued to increase its regional coverage in most countries but the unprecedented supply chain congestion and demand had required longer delivery expectations.
Braid said trading post the half-year had continued current financial and volume trends - "at times significantly ahead of the prior year".
"We remain optimistic these levels of activity and growth will continue across our global network for the remainder of this financial year and into the next."
The company would provide a nine-month trading update in mid-February, with full 2022 financial year results out on May 26.
Mainfreight's share price rose 2.7 per cent to $93.50 on the half-year result.
