MFT - Mainfreight

[Bull….]

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[Shareguy]

Trading at a FY23 pe of 18.  Looks like the good times are continuing.

In the past 16 weeks from April 1, group revenue was up by 32.5% to $1.4 billion and profit up 82.9% to $178.83 million which Braid described sarcastically as "doing okay," to laughing shareholders.

Numbers were driven by an increase in US revenue by 41.4% to US$257.5m (NZ$410.6m) and a profit of  In the past 16 weeks from April 1, group revenue was up by 32.5% to $1.4 billion and profit up 82.9% to $178.83 million

[Left Field]

Amazing company with a fabulous team culture approach....

The year to March 2022 produced the continuation of 12 years of record results, with a stunning after tax profit of $355.4 million dollars, an increase of 90% on the previous year.

We have a level of satisfaction in the major continents in which we operate, including China and South East Asia. We are able to take advantage of our global network of over 300 branches to grow and give high quality supply chain services to much of the world.

Our culture continues to define us in many areas such as payment of creditors on time every time, internal promotion and minimal use of casual labour, so that all team members can see themselves as being on a career path, the payment of an annual discretionary bonus, healthy meals, the payment of company tax in the countries in which we operate, and widespread belief that we as individuals and as a company are helping to make a better world.

[Shareguy]

Pie funds added to growth 2 fund.(Insert from todays newsletter)

We added Mainfreight during the month, expecting a strong AGM update and they delivered, although we are mindful that peak weekly profitability has probably passed

[winner (n)]

They were truly amazing numbers Mainfreight put up around how things were going this financial year

Share price today not much higher than it was the day of that announcement .... and it's even lower than what it was when they announced the F22 result in May

And you can't say its outrageously over priced either ----PE under 20

A few months before we hear much more from them .... and share price will probably just hang around current levels

[Shareguy]

Added to my position yesterday. Not long for update

[Shareguy]

Great update. Growth slowed since last update but pretty good. Have been accumulating and have a good position that I will hold long term.

https://www.nzx.com/announcements/400953

[winner (n)]

Great update. Growth slowed since last update but pretty good. Have been accumulating and have a good position that I will hold long term.

https://www.nzx.com/announcements/400953

some might say profit growth has halved over last 10 weeks (compared to first 16 weeks)

No worries though

Only wish share price would go up 44%

[Basil]

Well run company still in a conformed downtrend despite today's update.

I've put this on my watch list.  When TA says buy I'm favorably inclined to do so but I am disinclined towards doing anything until a new uptrend is confirmed.

[winner (n)]

From yesterda'ys update rolling 12 months eps is $4.38 so trading at a PE of 15

I think full year eps will come in at $4.72

Table of half yearly npat and profit growth below. Impressive and my forecast doesn't look outrageous

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[Basil]

PE looks cheap but what's E in FY24 or FY25 when freight rates normalise ?

[winner (n)]

PE looks cheap but what's E in FY24 or FY25 when freight rates normalise ?

Probably the E in F25 will be about the same as now

Ooops - no growth maybe

So do we have this thing called 'peak profit'? Market's don't like that .... where to next then

[Basil]

Probably the E in F25 will be about the same as now

Ooops - no growth maybe

So do we have this thing called 'peak profit'? Market's don't like that .... where to next then

That's why I am following the chart and waiting for a new confirmed uptrend.  I don't think anyone has a clue what E is in FY25.

[winner (n)]

That's why I am following the chart and waiting for a new confirmed uptrend.  I don't think anyone has a clue what E is in FY25.

Talking of peaks isn't the chart really beautiful .... if you think it looks like Mount Ngāuruhoe

And 'target' maybe $52

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[Basil]

Talking of peaks isn't the chart really beautiful .... if you think it looks like Mount Ngāuruhoe

And 'target' maybe $52

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WOW, it does !  Pretty good ski slope on that right hand side with the clear potential for it to go on quite a bit longer !