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Mainfreight (MFT) briefings
Read that company's published results in release order, newest first.
PBT margin fell to 6.5%, the weakest in four years, as NPAT slipped to NZ$251.0m
Operating margins compressed even as pre-lease free cash flow climbed to NZ$392.1m on capex restraint.
Published 28 May 2026
Read briefingPBT fell 3.0% on 11.0% revenue growth as tax normalisation lifted NPAT 31.4%
The NPAT headline reflects effective tax falling from 47.2% to 28.5%; an Australian record offset profit declines across New Zealand, Asia
Published 29 April 2026
Read briefingRevenue +8.4% but NPAT -8.0% as costs and debtors absorbed growth
EBITDA rose 6.4% but PBT fell 7.8%, debtors outpaced revenue by nearly 2x, and net debt swung to $88.4m from net cash.
Published 22 April 2026
Read briefingPBT fell 32.7% on 16.9% revenue decline; cash conversion dropped to 70.0%
Operating deterioration is real, but ~$69m of abnormals doubled the headline NPAT decline to 51.1% as cash conversion fell from 89.0% to 70.0%.
Published 22 April 2026
Read briefingMainfreight PBT fell 42.1% on a 21.6% revenue decline
Operating deleverage halved profit growth, cash conversion dropped to 58.3% from 69.0%, and the unchanged 85c interim now absorbs 68.7% of NPAT.
Published 22 April 2026
Read briefingNPAT up 20.0% on 8.8% revenue growth with cash conversion lifting to 89%
Operating earnings and a $186m working capital release boosted cash flow, but second-half trading slowed against a strong comparable.
Published 22 April 2026
Read briefingMainfreight PBT up 65.8% on 32.1% revenue, but capex doubled
Operating leverage and an FX tailwind drove earnings, but capex up 125.7% pushed FCF coverage of NPAT down to 51.5%.
Published 22 April 2026
Read briefingRevenue up 47.3% and NPAT up 88.9% but cash conversion slipped to 70.8%
Working capital absorbed $316.4m as receivable days extended six days, leaving FCF/NPAT at 87.5% versus 137% prior.
Published 22 April 2026
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