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  1. #351
    percy
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    Quote Originally Posted by quartzpurple View Post
    thanks for the update Percy...any other takeaway?
    Baird said doing work for a customer in one country,often lead to gaining work for that customer in other countries.Building world wide good customer base.
    Europe.Lost biggest customer when they first took over the business as previous owner would not lower rates.Not at all happy about that,however they have picked up five major customers.They got a lot of good property in the European acqusition.They need to be there.
    Everything they do is for the long term good of the business.Not interested in short term short cuts.
    350 million people in Europe need to be feed.Food,supplies have to be delivered to markets.
    Even in tough times people still eat,so those supplies must get delivered.
    Said rail in US had a poor record of delivery on time,so does not suit them.
    Look forward to expansion with new offices openning over the next few days to over the next year.Vietman,Turkey etc.
    As more and more of MFT earnings are overseas they feel MFT should be classed as an exporter for tax.They keep talking to Govt about this.
    I came away feeling the fun [growth] is about to happen.!!!!! Bring it on.!!!
    Last edited by percy; 24-10-2012 at 07:21 AM.

  2. #352
    percy
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    Was interesting to hear Baird speak of PE ratio.MFT trade on 12 or 13 PE,however their opposition trade on PEs of approx 22 on overseas markets.
    Said they had been approached by brokers trying to get them to list on overseas exchanges.Could see that would increase SP and give fat fees to brokers,however they intend to stay NZ listed.
    Said being NZders helped a lot in Europe as most the French hate the Belguims,the Germans hate the English ,etc,and Kiwis were n't hated.Makes the rivillary between Aussies and Kiwis minor.Generations of hatred.
    Also opposition miss judged the little Kiwi company.A lot of the big opposition companies were very set in their ways,and only did certain segments of the market,while MFT chased all business.

  3. #353
    Member sharer's Avatar
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    Thanks again for your reports Percy, your comments help to reinforce the egalitarian nature & competence driven culture of this company.
    MFT has been my favourite in the past few years, always looking for chances to buy more if price dips.
    One of the very few where i like to get the printed reports, & read from cover to cover.
    When global trade eventually revives, MFT seems well placed to give us all a welcome leap upwards
    Sharer

  4. #354
    percy
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    sharer; A few years ago I read the book"The Mainfreight Story".Just as it was getting really exciting the book finnished.
    I sent Don Baird an email today thanking him for the excellent presentation, and asked when part 2 of the book would come out.A very quick reply saying the 2nd book was not far away.
    I really don't think Baird or Mainfreight will bother waiting for global trade to revive.!!!!!!

  5. #355
    percy
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    Quote Originally Posted by SparkyTheClown View Post
    MFT being held back by their poor performing European division... again. Looks like their western European operations need another year to sort themselves out.
    Trust you had a good trip.I have just returned from up your way and Whangarei,Tutukawa coast and Opononi.Lovely part of the country.[bit warmer than ChCh too]
    I think MFT have the European problems sorted,and the next year should see positive results from this very important part of the business.Everywhere else doing well.

  6. #356
    Member sharer's Avatar
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    Quote Originally Posted by percy View Post
    ... I think MFT have the European problems sorted,and the next year should see positive results from this very important part of the business.Everywhere else doing well.
    I'm also very interested to see future improvements in China business. This is expected to be strongly affected by MFT efforts to link China to Europe, as well as USA progress.
    I was too slow off the mark to get more on the recent brief dip on share mkt, must watch more closely.

  7. #357
    percy
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    Quote Originally Posted by sharer View Post
    I'm also very interested to see future improvements in China business. This is expected to be strongly affected by MFT efforts to link China to Europe, as well as USA progress.
    I was too slow off the mark to get more on the recent brief dip on share mkt, must watch more closely.
    Gee Whiz,You would have had to be very fast.I was surprised how quickly the SP rebounded.

  8. #358
    Member ENP's Avatar
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    What is Main Freight's durable competitive advantage?

    I work in freight and logisitcs and deal with them every now and then. I don't think their deliveries are any faster or more reliable. I also get an equal level of customer serivce from others such as Toll (listed on ASX).

    At the end of the day, they provide a commodity of putting something on a truck and driving it to where it needs to go.

  9. #359
    percy
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    Quote Originally Posted by ENP View Post
    What is Main Freight's durable competitive advantage?

    I work in freight and logisitcs and deal with them every now and then. I don't think their deliveries are any faster or more reliable. I also get an equal level of customer serivce from others such as Toll (listed on ASX).

    At the end of the day, they provide a commodity of putting something on a truck and driving it to where it needs to go.
    Well another of my beliefs shoot down in flames.I thought "special people,special company." And to have it happen at Xmas time.!!! lol.

  10. #360
    Speedy Az winner69's Avatar
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    Maybe 'special people, special company' meant something once but overtime that something special has faded - at least in NZ

    One thing though if you want one freight provider to actually make deliveries in their own trucks from North Cape to Bluff Mainfreight is the only one - spose taht a bit special and probably keeps a bit of their bigger business safe

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