still $10 more needed to regain to this time last year's SP :)
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still $10 more needed to regain to this time last year's SP :)
Truckometer still showing signs of growth in December. Unfortunately Waka Kotahi are only updating a few National sites, but with the Auckland southern motorway and Wellington northern routes included my confidence is good.
Supported by Massey site here, I believe they only use these sites and since they pay for the data it’s updated: http://gdplive.co.nz/Dashboard#graph
Now MFT gets 70% of its revenue and profits from offshore as it has significant business in many different parts of the world thus making it immune to vagaries of just one economy ...MFT in itself is a very diversified business thus ...If they expand on their Indian network in future ...which I am sure they will then they will have presence in a developing economy too ...rest all including China are pretty mature economies . Looking at JB Hunt I think MFT shud have better multiples as its growing much faster then that company ...in this downtrend its multiples contracted from 29 to 16 ...
Tomorrows update will enlighten many analysts who were talking of some pull back in profits after two big covid influenced years ...if they can show even 10% growth over PCP then imo they have done a great job and it will be rerated upwards towards $ 85 levels
Trading update out.
Outstanding growth, I mean 32% growth in PBT is "satisfactory".
[QUOTE=Rawz;991955]Post the link[/QUOTE
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MFT/406411/388032.pdf
Not very good going in USA and Asia ...But NZ / AUS / Europe is still satisfactory ....signs of slowdown in USA ...Asia is too small revenue and mostly China lockdowns dependent ....USA is the showing signs of rates working ...good for overall markets LT
PS : Looks like they will struggle to increase NPT in second HY ...maybe second half lower then PCP
Overall EPS estimates $ 4.30 for FY23 ...hopefully I am wrong with my quick estimates !!!
Looks good!! What a great company
Is revenue growth slowing?
"we remain satisfied" sums it up nicely. Australia outstanding and NZ continues to be good. Americas disappointing and possibly indicating a slowing economy there, which may also see slowing of growth here in the next 12 months. Asia a bit disappointing but next year should be when we start seeing growth there with China open again and the Indian operation underway.
A good steady result from a great company.