MFT - Mainfreight. Global Freight & Logistics

[nextbigthing]

http://www.stuff.co.nz/business/indu...baggage-sorted

[Toulouse - Luzern]

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.

[gv1]

NZ herald website stated yesterday that co made 50% profit, is this correct?

[Snow Leopard]

NZ herald website stated yesterday that co made 50% profit, is this correct?

No, not really.

Best Wishes
Paper Tiger

[gv1]

No, not really.

Best Wishes
Paper Tiger

Thanks paper tiger, I thought as well after looking at the accounts. The herald didn't analyse as such as to how they got that fiqure though.

[Toulouse - Luzern]

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...

[Snow Leopard]

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).

The percentages that matter.

Best Wishes
Paper Tiger

[nextbigthing]

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.

[winner69]

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

[nextbigthing]

Plus I see MFT has been endorsed by Morningstar by giving it a 'reduce' status. Ie accumulate in anyone elses book.