http://www.stuff.co.nz/business/indu...baggage-sorted
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Great recent analysis on this thread.
Great result, the situation is being positively managed.
Interesting right now at 10.32am NZT up 2.1% today and in my screen only one seller for 2000 shares.
Rare.
NZ herald website stated yesterday that co made 50% profit, is this correct?
From the first few paragraphs of the MFT release below to the NZX I calculate a 50.79% improvement. (E&OE)
"After abnormals, a net surplus of $41.83 million was recorded, compared to
$27.74 million for the same period last year."
Source: From the Direct Broking Site.
https://www.directbroking.co.nz/Dire...spx?id=3483617
The first few paragraphs of the MFT release to the NZX.
MFT
12/11/2013 08:30 After abnormals, a net surplus of $41.83 million was recorded, compared to
$27.74 million for the same period last year.
HALFYR
REL: 0830 HRS Mainfreight Limited
HALFYR: MFT: Mainfreight - HY Financial Results to 30 September 2013
MAINFREIGHT LIMITED
Financial result for the six months ended 30 September 2013 (Unaudited)
The Mainfreight Group is pleased to report a net surplus before abnormals of
$29.87 million for the first six months of our 2014 trading year. This is an
increase of 7.7% over the same period in the prior year.
EBITDA performance improved 3.7% to $63.30 million, an increase of $2.24
million over the previous year. Excluding foreign exchange effects, the
increase is 6.1%.
Total revenue (sales) increased 1.7% to $952.70 million (excluding foreign
exchange effects, this is an increase of 4.0% over the same period last
year).
Abnormal items after tax for the period total $11.96 million, made up of:
o Settlement of a dispute with the previous owners of the European
acquisition, culminating in an after tax gain of $12.74 million
o The discovery of fraud (within a New Zealand subsidiary, Daily Freight,
which is currently before the Court) with an estimated after tax cost of
$684,000, net of recoveries to date
o Balance of $97,000 relating to redundancy costs incurred in the United
States and Europe as business units have reduced team numbers.
After abnormals, a net surplus of $41.83 million was recorded, compared to
$27.74 million for the same period last year...
The percentages that matter.Quote:
The Mainfreight Group is pleased to report a net surplus before abnormals of
$29.87 million for the first six months of our 2014 trading year. This is an
increase of 7.7% over the same period in the prior year.
EBITDA performance improved 3.7% to $63.30 million, an increase of $2.24
million over the previous year. Excluding foreign exchange effects, the
increase is 6.1%.
Total revenue (sales) increased 1.7% to $952.70 million (excluding foreign
exchange effects, this is an increase of 4.0% over the same period last
year).
Best Wishes
Paper Tiger
7.7% increase sounds pretty good given Europe is still lagging. Given they have a plan to get this sorted then it's looking positive.
I gather they were a but disappointed in overseas performance
Essentially all the increased profit came out if nz ......rest of world just hanging in there
Stil a + sign is better than a - one eh PT
Plus I see MFT has been endorsed by Morningstar by giving it a 'reduce' status. Ie accumulate in anyone elses book.