Wellington, July 29 NZPA - Mainfreight said its first quarter earnings before interest, tax, depreciation and amortisation, due to be released on August 19, will be ahead of last year by as much as 30 percent.

The comment was made by managing director Don Braid to the company's annual meeting in Auckland today.

Mr Braid said the company had identified targets in both Europe and South America.

The company's offshore sales now exceed $757 million, or $15 million per week.

Chairman Bruce Plested said the company had set ambitious goals to achieve by 2015 in its annual report.

These included a goal of achieving annual revenue of $2 billion.

Mainfreight also wants to be located in three South American countries, and to have a branch network throughout Asia, including in India. It also has a goal that US operations will earn more than Australia and New Zealand operations.

Mr Plested said that, in the immortal words of former All Black Tana Umaga in the heat of a test match, "we're not playing tiddly winks here mate".