Mainfreight's 'stonking' profits still skyrocketing

Contract rates lag spot rates by around 6 to 9 months, meaning Mainfreight could even earn more in the second half of the financial year. (Photo: supplied)

Dan Brunskill

Fri, 12 Nov 2021

Mainfreight may have been unable to provide earnings guidance, but equity analysts expect record profits to continue for another year at least.The global logistics firm reported half-year earnings comfortably ahead of expectations with revenue up 41% from last year at $2.2 billion and net profit up almost 80% at $130.8 million.This result pushed its share price to almost $95 on Thursday, although it moderated the following day and traded as low as $90 on Friday as bond yields marched higher.Jarden analysts Andrew Steele and Nick Yeo left their...

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