Thursday 21st June 2018
|Text too small?|
Mainfreight, which last month reported a record full-year profit, told investors and analysts it expects momentum to continue.
The Auckland-based transport and logistics company, which currently has 247 branches in 22 countries, predicted “short-term impacts” on unadjusted earnings before interest, tax, depreciation and amortisation as new sites are delivered through 2019/20, according to a copy of its presentation to analysts and investors in the Netherlands. Ebitda rose 9 percent to $215.4 million on a 12 percent gain in revenue to $2.62 billion in the year ended March 31.
“Emphasis remains on strong revenue and ebitda improvement,” Mainfreight managing director Don Braid said. “Expect momentum to continue.”
Braid pointed to Japan, the Middle East and Scandinavia as "areas under consideration" for expansion.
Mainfreight also noted "further expansion opportunities in Eastern Europe" once its profitability in the Benelux region is "acceptable."
The stock slipped 0.3 percent to $27.90 and has climbed 24 percent in the past year. That compares with an 18 percent return for the S&P/NZX 50 Index in the same period.
No comments yet
MARKET CLOSE: NZ shares down, led lower by A2 and Z
NZ dollar falls against Aussie on strong jobs data across Tasman
LIC's FY net profit tumbles on one-offs but revenue reaches record
Fitch Ratings tips downgrade for Co-op Insurance NZ
Farm sales and prices ease on year June but horticulture farms shine
ComCom concerned about Christchurch Airport planned profits on some services
Provincial growth to outshine the cities in 2019, Infometrics says
NZ's Parker to attend Pacific Alliance Summit for fresh round of trade talks
NZ’s Parker to attend Pacific Alliance Summit for fresh round of trade talks
July 19th Morning Report