Morningstar - Mainfreight Ltd. (MFT) Mainfreight Site Visit and Investor Update: Modest Revisions to EPS; FVE Unchanged

Report

Morningstar

Adrian Atkins

EUR 147.86 For Business Accounts Only

Mainfreight Site Visit and Investor Update: Modest Revisions to EPS; FVE Unchanged

We retain our NZD 17.00 fair value estimate and modestly adjust earnings for no-moat-rated Mainfreight after the release of guidance for the six months to 30 September at an investor day. The investor day included a tour of the new transport and logistics facility at Epping in Melbourne and presentations from Managing Director, Don Braid, and Regional Managers representing Australia, New Zealand, Asia, the U.S. and Europe. Management are guiding NZD 41-43 million NPAT for interim 2017, which is...

13/10/2016 13 EN

Underlying

Mainfreight Ltd.

Mainfreight is engaged in the global supply chain logistics. As of Mar 31 2015, Co. had business operating in 242 branches in 20 countries around the world. Co. operates in the domestic supply chain (moving and storing freight within countries) and air and ocean freight industries (moving freight between countries). New Zealand, Australia, The Americas and Europe are each reported to management as one segment as the businesses there perform both domestic and air and ocean services.

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NZMFTE0001S9 NZX New Zealand

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Adrian Atkins

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Mainfreight Site Visit and Investor Update: Modest Revisions to EPS; FVE Unchanged

Mainfreight Limited: 1 director

MAINFREIGHT sees a downgrade to Slightly Negative on account of less fundamental stars

Int'l Insights: Developed Markets Leadership Chart Book

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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