Mainfreight Ltd: 1st Quarter to June 2011 Profit Review

Mainfreight Ltd [MFT.NZX] 1st quarter results to June 30 2011 have been nothing short of spectacular, even if you strip out the contribution from the Wim Bosman Group

Not only has the recent acquisition of Wim Bosman Group proven to be a winner but the company has also grown organically across most geographical areas of operation.

The company booked a net profit of $14.22 million for the first three months of the 2012 financial year; an increase of 109% on the previous year’s result of $6.82 million (excluding abnormals the increase was 115%). This was on revenue of $449.86 million up 43% from $315.25 million in the comparable quarter last year. Revenue excluding Wim Bosman contributions saw sales improve 5% to $331.04 million.

The fact that the company did so well during a global economic downturn is once again down to good cost controls and great management of the business from the top down to be able to grab the extra business that they have.

Key Points

* Net profit of $14.22 million for the first three months of the 2012 financial year, an increase of 109% on the previous year’s result of $6.82 million (excluding abnormals the increase was 115%)

*Revenue increased by 43% to $449.86 million, from $315.25 million in the comparative period last year. Excluding Wim Bosman contributions, sales improved 5% to $331.04 million.

* With the exception of Asian operations Mainfreight has experienced growth momentum for all their business operations.

* Wim Bosman Group acquisition proven a good fit in the first 3 months of inclusion within the Mainfreight group and management confident of building on the gains made for this quarter compared to the 2010 comparable period.

The company has given a nod to the market that this first quarter result is in line with their expectations and the commentary provided at the MFT AGM in late July.

July and August have continued to trade well and management expect the 2012 financial year to be an improvement on 2011.

You can not get much better than this.

9.8 out of 10

Disc I own MFT shares in the Share Investor Portfolio


Mainfreight @ Share Investor

Read the MFT 2011 FY Profit Presentation

Mainfreight Ltd: Top returns for the last 10 years
Is Mainfreight Worth Ten Bucks a Share?
Share Price Alert: Mainfreight Ltd 2
Mainfreight's European Acquisition a Good Move
Share Price Alert: Mainfreight Ltd
Investing in the Stockmarket: Timing your Purchase
Stock of the Week: Mainfreight Ltd
Mainfreight Ltd: 2011 1st quarter Profit Analysis
VIDEO: Don Braid with Paul Homes on the Economy
Mainfreight Ltd: Full Year 2010 Profit Analysis
Long Term View: Mainfreight Ltd
Share Investor Interview: Mainfreight's MD Don Braid
Stock of the Week: Mainfreight Ltd
Questions to Mainfreight's MD Don Braid
I'm Buying: Mainfreight Management delivers the goods
Mainfreight Annual Report Packs a Punch
Analysis - Mainfreight Ltd: FY Profit to 31/03/09
Mainfreight VS KiwiRail: The Sequel
Long VS Short: Mainfreight Ltd
Why did you buy that stock? [Mainfreight Ltd]
Mainfreight 2008 Annual report worth reading
KiwiRail will cost Mainfreight
Mainfreight keeps on truckin
A rare breed
Share Investor's 2008 stock picks

Discuss MFT @ Share Investor Forum
Download Mainfreight Company Reports



From Fishpond.co.nz - Every Bastard Says No: The 42 Below Story


c Share Investor 2011