Editors Gloating note: I have republished this in honour of the precedent set yesterday. Long may it continue.
I don't know about you but I have been watching the upwards trend in share price of Mainfreight Ltd [MFT.NZ] with much interest.
First of all its no surprise to me why its up.
Its well run, self critical and critical of others where its business is being affected and very few announcements to the market.
Lets have a look at some essential figs.
2017
*Net Reported Profit 88 mil
*Price Earnings Ratio (P/E) 23.29
*Earnings per Share (EPS) 96.24
*Net Tangible Assets per share 329.21c
*Total Net Div Paid (last full financial year) 40c
*Div Yield 1.6%
*Market Cap 2,275,000,000
*2016
*Net Reported Profit 88 mil
*Price Earnings Ratio (P/E) 22.65
*Earnings per Share (EPS) 96.24
*Net Tangible Assets per share 329.21c
*Total Net Div Paid (last full financial year) 40c
*Div Yield 1.79%
*Market Cap 2,079,000,000
*Dec 30
2011
*Net Reported Profit 26 mil
*Price Earnings Ratio (P/E) 13.92
*Earnings per Share (EPS) 47.88
*Net Tangible Assets per share 1.86
*Total Net Div Paid (last full financial year) 19c
*Div Yield 2.24%
*Market Cap 880,000,000
Source - Morningstar
Since Dec 30 2016 when the share price was $20.71 the share has packed on nearly 2 bucks to be trading at $22.60 currently.
It is trading at these record levels largely because of positive sentiment and it is because it is a great company.
I don't have any motivations either way, i'm keeping this stock until the day I die with a possible big payoff when the vultures circle and they will but either way I don't think it will be enough to tempt the heads of Mainfreight.
It certainly won't tempt me. You would have to be talking well north of $50 to get me to release these.
I'm enjoying this run and feel this May's profit announcement will be a stunner.
The global logistics biz can be a hard beast at the best of times but I feel - the second feel in as many sentences - that Mainfreight have finally got their ducks in a row.
Can't wait until 30th May.
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c Share Investor 2017
