For its year to March, revenue overall rose 2% from $2.28 billion a year ago to $2.33 billion, earnings before interest, tax, depreciation and amortisation were up 13% to $197.5 million and underlying after tax profit gained 17% to $103.2 million.
Of its $2.33 billion revenue, about $1.7 billion was generated from overseas operations.
Net debt declined 20% to $208.7 million.
Mainfreight's managing director Don Braid said breaking through to $100 million net profit was a ''significant milestone'', prompting the company to pay its staff their largest ever bonus; up 18.7% to $19.27 million.
''This is a satisfactory result, with excellent contributions being made by our New Zealand, Australian and European operations.
''Poorer than expected results from our Asian and American operations dampened the overall results,'' Mr Braid said.
Mainfreight shares were up 4c to $22.32 following the announcement. The full year dividend rose 4% to 24% on a year ago.
Mr Braid said the New Zealand businesses ''satisfactory performance'' came despite upheavals and disruptions following the Kaikoura and Wellington earthquakes last November.
''The momentum created in achieving this result is expected to continue throughout the new financial year,'' he said.
However, Mr Braid noted Mainfreight had ''much to do'' to improve sales revenues and profitability in the larger markets of Asia, America and Europe where there continued to be significant growth prospects.
Craigs Investment Partners broker Peter McIntyre said it was a ''quality result'' and appeared to have the momentum to continue through the current financial year.
He noted, however, that given Mainfreight had been trading above $22 per share, it needed to justify that confidence with a good result.
''Mainfreight were quite bullish and we could see this profitability trend for the next 12-months,'' Mr McIntyre said.
Forsyth Barr broker Damian Foster said it was a ''strong result'', just ahead of analysts' consensus but ''just shy'' of Forsyth Barr expectations.
He said Mainfreight's cashflow conversion was hampered by working capital investment, which drove a decline in free cash flow.
However, the lower capital expenditure meant more debt could be paid off.
He noted Mainfreight had signalled a re-acceleration of capital expenditure this year, up to $112 million, as property development picked up in Australia and New Zealand.
Mr McIntyre said Mainfreight's balance sheet ''was in good shape'' with net debt down from $260 million a year ago to $208 million.
''New Zealand trading remains very strong and Australia appears to have improved . . . Europe continues to grow well and the Americas and Asia continue to be work in progress,'' Mr McIntyre said.
