Forsyth Barr retains 'outperform' on Mainfreight despite spot rate falls

Wed, 25 Jan 2023

Forsyth Barr is expecting Mainfreight’s earnings outlook to be more evenly balanced than its peers.The company is expected to issue a trading update next month reporting slippage in air and ocean (A&O) profitability.Analyst Andy Bowley said in a note that while significant sea freight spot rate declines are expected to hamper revenue, the impact will be cushioned by more resilient contract rates for sea and air freight.However, Bowley also expects any decline in A&O to be broadly offset by further gains in the transport and wareho...

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