Mainfreight at Mercy of Economic Recovery Timing -- Market Talk

Dow Jones05-30

0006 GMT - Macquarie cuts its FY 2025 pretax profit forecasts for Mainfreight by 9%, taking the view that any economic recovery is likely to happen in 2H. In a note, the bank highlights signs that global freight volumes--especially seafreight--have stabilized, and says general freight rate increases are sticking to at least offset cost pressures. At the same time, macroeconomic headwinds remain strong. "Mainfreight has historically had a 40/60 pretax profit seasonality bias to the 2H trading period," says Macquarie. "We expect this shape again in FY 2025, with the bias perhaps being even more pronounced if a global economic recovery gains traction in Mainfreight's 2H25 trading period." (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 29, 2024 20:06 ET (00:06 GMT)

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In a note, the bank highlights signs that ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MFGHF","symbol_name":"Mainfreight Ltd.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2439366246","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2439366246","pubTimestamp":1717027560,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0006 GMT - Macquarie cuts its FY 2025 pretax profit forecasts for Mainfreight by 9%, taking the view that any economic recovery is likely to happen in 2H. 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