MFT - Mainfreight. Global Freight & Logistics

[Snow Leopard]

I made my first and third fortunes¹ on good old Mainfreight, and I love their announcements; they are more than happy to use words like 'unsatisfactory'.
But I sold on the TA one day, a long time ago, when I thought it was well overpriced.

Time to read the accounts and see if we have an opportunity.

I am sure they will be back in favour at some point.

Best Wishes
Paper Tiger

¹ well it seemed like a fortune at the time

[winner69]

Another year passes and Mainfreight keep trucking along

https://www.nzx.com/files/attachments/247690.pdf

[Biscuit]

Another year passes and Mainfreight keep trucking along

https://www.nzx.com/files/attachments/247690.pdf

Yes, they have the odd off year but the long term trend is still in the right direction

[BlackPeter]

Fisher Funds selling:

https://www.anzsecurities.co.nz/Dire...spx?id=4439834

If they use the same strategy as with their recent MPG sales, than this means MFT will get a nice uplift from here . On the other hand, Fisher Funds are holding them for ages, they surely made a nice profit

Discl: holding;

[Oliver Mander]

So what do we think of the result...slightly below consensus forecast (but slightly higher than my expectation)...
Looks like 2H wasn't good in Asia and US...any other thoughts anyone?

[Snow Leopard]

I have always liked Mainfreight and that they are willing to use words such as 'poor' and 'disappointing' up front in their results announcements.

But as they say the overall result is Satisfactory.

Best Wishes
Paper Tiger

Disc: I do not hold any MFT these days.

[BlackPeter]

Quite happy with the result. Not spectacular, but both revenue growth as well as earnings growth a wee bit higher than what my preferred "consensus source" predicted. Sure - Revenue growth of less than 3% is not spectacular, but turning this into a nearly 15% EPS growth is. Add to that a solid balance sheet and a team which never failed to keep the engine going ....

Happy holder - and dependent on how the markets react might this turn into a good opportunity to accumulate some more.

[Oliver Mander]

Quite happy with the result. Not spectacular, but both revenue growth as well as earnings growth a wee bit higher than what my preferred "consensus source" predicted. Sure - Revenue growth of less than 3% is not spectacular, but turning this into a nearly 15% EPS growth is. Add to that a solid balance sheet and a team which never failed to keep the engine going ....

Happy holder - and dependent on how the markets react might this turn into a good opportunity to accumulate some more.

Yup, agree - SylvesterCat is quietly purring away on this one...

[Oliver Mander]

some big movements on this recently...and yet no-one talking! Any thoughts...perhaps early signs of recovery in US and Asian business?

[forest]

Traction in Australia is very good at present due to main competitor Toll having issues with staff motivation. This lack of motivation apparently is so bad that it effects customers relations.
The result is very noticeable to MFT, in the past MFT had to approach potential new customers to grow. Now potential new customers approach MFT.
This makes life a lot easier. Toll is much larger than MFT so a lot of potential customers still to come over.