Mainfreight Steering Out of Tough Period
Mainfreight Steering Out of Tough Period
Mainfreight's positive trading update for April and May heartens its bull at Ord Minnett. The company's FY26 pretax profit fell 9% to NZ$350.9 million, in line with expectations.
According to analyst Ian Munro, the 2H underlying profit was flat on the prior period, indicating more stable operating conditions. Ord Minnett notes that the company's strategy to focus investment on higher-returning Australian and New Zealand markets since 2024 supports a more predictable profit trajectory of 5%-10% per annum, with upside risk from improving economics in Europe and the Americas.
The price target eases by 0.9% to NZ$72.56/share. Mainfreight shares are up 0.5% at NZ$62.90 today.
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