Might be because of the much improved performance of their Aust division.
Are these figures old news? I am a bit too tired tonight to look it up.
Mainfreight’s trading figures for the 17 weeks from April 1 to July 26 showed pre-tax profit of $53.2 million, up from $44.2m for the same period a year earlier.
Revenue rose 8% to $1.19 billion.
According to its trading update, the biggest revenue gains were in Australia and Asia, up 13% to $287.9m and up 41% to $51.8m respectively.
Profitability in Australia gained 167% for a pre-tax profit of $17.9m for the period.
Bowley said an key profit driver was Australia, “where robust revenue growth and very impressive margin expansion is evident”.
Bowley said Mainfreight’s “ability to gain strength from adversity is an exception in its industry”.
He upgraded his full year underlying net profit forecast to $167.6m, from the previous forecast of $124m.
When the world crashes buy the freights. Could not even get the stock in the low 20's... never been able to buy in in bulk.... overvalued? the market doesnt think so yet. Makes me sick how good this stock is. Right up there with FPH and that makes me even blue in the face... held at 3.50 and held this at 28.. Dont ever sell the freights.
When the world crashes buy the freights. Could not even get the stock in the low 20's... never been able to buy in in bulk.... overvalued? the market doesnt think so yet. Makes me sick how good this stock is. Right up there with FPH and that makes me even blue in the face... held at 3.50 and held this at 28.. Dont ever sell the freights.
Totally agree. Through the years commentors are always saying this stock is overvalued on metrics such as P/E, just like FPH. It was also said when I first bought in back in 2009 at $ 4.50 and I thought I was being a bit careless. Yet this very astute management comes up with the goods year after year and the SP exceeds expectations.
Both of these are an essential part of any longterm diversified portfolio.
Totally agree. Through the years commentors are always saying this stock is overvalued on metrics such as P/E, just like FPH. It was also said when I first bought in back in 2009 at $ 4.50 and I thought I was being a bit careless. Yet this very astute management comes up with the goods year after year and the SP exceeds expectations.
Both of these are an essential part of any longterm diversified portfolio.
Would you say that "any" price should buy? When I read their book about 3 or 4 years ago it was around $17. I'm not an expert in buying value but as you say along with FPH you can't go wrong with this one.
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