0051 GMT - Mainfreight has made up a weak start to a financial year before. Forsyth Barr doubts it can do it again in FY 2026. Mainfreight signaled profitability is down materially, extending a three-year cycle of weaker earnings. It stems from a fresh squeeze on margins across major product lines. Analyst Andy Bowley says it looks largely cyclical, reflecting competitive pressures and higher expenses, among other reasons. "As has happened at various times in Mainfreight's history, a weak start to the financial year can be offset," Forsyth Barr says. "And despite sequentially improving performance year-to-date, in this instance the magnitude of the year-to-date decline and the relatively soft prior-year comparative suggest this is unlikely in FY 2026." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
July 30, 2025 20:51 ET (00:51 GMT)
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