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Please find here the preliminary full-year results released by New Zealand’s Mainfreight today. More details can also be found here, in what is a short update as we extensively covered the company in recent times.

In a nutshell, this is a cash flow machine with core, trailing free cash flow yield at 4.3% and totally manageable net leverage. The balance sheet and P&L were in good order too, as expected, with rapidly rising cash balances and boasting income streams from dividends (1.6% forward ...

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