Comment / Mainfreight – all's well that ends where it all started

ID 215583556 © Cagkan Sayin | Dreamstime.com

New Zealand’s Mainfreight (MFT) has topped our DeskOne terminal coverage for a couple of weeks now, its stock rally up to the annual general meeting (AGM) held yesterday, 25 July, ending in tears.

As we highlighted, the latest update from management was hard to digest for investors following previous financial disclosure at the end of May where it was apparent that several operating bits weren’t firing on all cylinders.

In other words, the bull case for the first 15 weeks (from 1 ...