MFT - Mainfreight. Global Freight & Logistics

[Oliver Mander]

Result looks solid on this one also...ROCE continues to improve every year for the last 5, which is a great sign. NPAT inline with expectations, revenue growth slightly slower than I expected, although this might be exchange rate impacted. Need to read the report in detail yet...

[percy]

I thought it was an incredible result.

[Oliver Mander]

Love the quote int he report - "Whilst we will bask for a moment, savouring this result..."!!
Yes, have just read the detail on the geographic segments. Amazing - firing on all cylinders with more to come as they sort out US and expand in Asia. The European story is great too...

It all shows up in the incredible increase in operating cashflow...

[MauroNZ]

I've got the alarm in my email and read a bit. Do you know what does it mean when they say "$2.93 million relates to the further write down of the European brand name which is in the process of being discontinued". Is it something not doing well in Europe I guess?.

Considering the very very little I know about MFT, is it the current PE of 29 a decent ratio?.

Thanks.

[Oliver Mander]

I've got the alarm in my email and read a bit. Do you know what does it mean when they say "$2.93 million relates to the further write down of the European brand name which is in the process of being discontinued". Is it something not doing well in Europe I guess?.

Considering the very very little I know about MFT, is it the current PE of 29 a decent ratio?.

Thanks.

I think its to do with changing the brands they bought to enter the market, and standardising across the "Mainfreight" brand. They are writing off the brand value (non-cash) in the P&L. I don't think this is a big surprise, and relatively desirable. PE of 29 - its actually 26.3 according to my numbers. Implies a 4% return. That assumes plenty of growth priced in, which is probably about right - long term upside in Asia, US and Europe. Seems reasonable to me.

[Biscuit]

Wow! That is a very strong result, right across the business, right around the globe. What a great New Zealand company!

[babymonster]

Excellent results. I was told it’s too expensive when I bought some for $23 and it’s the only stock that I don’t need to worry about.

[MauroNZ]

Excellent results. I was told it’s too expensive when I bought some for $23 and it’s the only stock that I don’t need to worry about.

I think that is when I read the book of the company, a fascinating reading, but then I got wondering due the PE and still they delivered and the sp kept going up.

[stealthmaster]

MFT on fire!

[stealthmaster]

still increasing... what a strong company :O