New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Equity Bottom-Up

<ul><li>Serko's (SKO) growth ambitions in North America have been dealt a blow by the announcement that key rival Amex GBT is acquiring CWT.</li><li>The deal will cement Amex GBT as the dominant player in the North America corporate travel industry.</li><li>CWT is likely to offer Amex GBT's Neo online booking tool (OBT) in place of SKO's flagship Zeno tool that has been one of three ‘globally preferred tools’ since 2022. U</li></ul>

Serko's (SKO) growth ambitions in North America have been dealt a blow by the announcement that key rival Amex GBT is acquiring CWT.The deal will cement Amex GBT as the dominant player in the North America corporate travel industry.CWT is likely to offer Amex GBT's Neo online booking tool (OBT) in place of SKO's flagship Zeno tool that has been one of three ‘globally preferred tools’ since 2022. U

Thematic (Sector/Industry)

<div><div><div><div><ul><li>The June 2024 quarter was eventful for New Zealand's listed technology sector, with nine companies reporting results in May.</li><li>Gentrack's (GTK) share price continued its rapid ascent after it reported strong revenue growth in 1H24 and upgraded FY24 guidance.</li><li>Meanwhile, mid-caps Serko (SKO) and EROAD (ERD) reported robust FY24 results that were in line with guidance. </li></ul></div></div></div></div>

The June 2024 quarter was eventful for New Zealand's listed technology sector, with nine companies reporting results in May.Gentrack's (GTK) share price continued its rapid ascent after it reported strong revenue growth in 1H24 and upgraded FY24 guidance.Meanwhile, mid-caps Serko (SKO) and EROAD (ERD) reported robust FY24 results that were in line with guidance. 

Forsyth Barr Technology Digest - Edition 7 — Reporting Season Wrap Up

<ul><li>The Forsyth Barr Technology Digest provides a snapshot of recent information relevant to the listed technology industries across New Zealand and around the globe.</li><li>We focus on three industry segments: Software &amp; Services, Technology hardware, and Semiconductors and equipment.</li><li>We aim to showcase what NZ technology is doing, provide updates on recent news at a company and technology level, present stock performance, and show relevant ratios.</li></ul>

The Forsyth Barr Technology Digest provides a snapshot of recent information relevant to the listed technology industries across New Zealand and around the globe.We focus on three industry segments: Software &amp; Services, Technology hardware, and Semiconductors and equipment.We aim to showcase what NZ technology is doing, provide updates on recent news at a company and technology level, present stock performance, and show relevant ratios.

Forsyth Barr Technology Digest - Edition 5 — Layoffs Resume

<ul><li>Conservative revenue guidance took some of the gloss off Serko's (SKO) otherwise strong 1H24 result.</li><li>Booking.com for Business (B4B) continues to exceed expectations, assisted by higher for longer hotel yields in Europe.</li><li>FY24 revenue guidance, while lifted as a result of the strong 1H24 result, reflected management's caution on the outlook for hotel yields and currency movements.</li></ul>

Conservative revenue guidance took some of the gloss off Serko's (SKO) otherwise strong 1H24 result.Booking.com for Business (B4B) continues to exceed expectations, assisted by higher for longer hotel yields in Europe.FY24 revenue guidance, while lifted as a result of the strong 1H24 result, reflected management's caution on the outlook for hotel yields and currency movements.

<ul><li>Strong top line performance with encouraging cost management: SKO experienced a strong top line finish to FY23, particularly from B4B</li><li>FY24 revenue growth to be driven by B4B, medium-term targets maintained: The strong FY23 revenue exit run-rate provides us confidence SKO will be able to reach the upper end of its FY24 revenue guidance range of NZ$63m–$70m.</li><li>CWT partnership and B4B global rollout provide further runway for growth: Travel management company CWT's partnership with B4B, expected to go live in June 2023, should drive an increase in customer acquisition for the B4B platform</li></ul>

Strong top line performance with encouraging cost management: SKO experienced a strong top line finish to FY23, particularly from B4BFY24 revenue growth to be driven by B4B, medium-term targets maintained: The strong FY23 revenue exit run-rate provides us confidence SKO will be able to reach the upper end of its FY24 revenue guidance range of NZ$63m–$70m.CWT partnership and B4B global rollout provide further runway for growth: Travel management company CWT's partnership with B4B, expected to go live in June 2023, should drive an increase in customer acquisition for the B4B platform

New Zealand

Serko Ltd operates as an online corporate travel booking and expense management company.

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Serko Ltd (SKO NZ)

Serko - A Hit to the American Dream

Serko's (SKO) growth ambitions in North America have been dealt a blow by the announcement that key rival Amex GBT is acquiring CWT.

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Forsyth Barr Technology Digest - Edition 7 — Reporting Season Wrap Up

The June 2024 quarter was eventful for New Zealand's listed technology sector, with nine companies reporting results in May.

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Forsyth Barr Technology Digest - Edition 5 — Layoffs Resume

The Forsyth Barr Technology Digest provides a snapshot of recent information relevant to the listed technology industries across New Zealand and...

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Serko - Steady Ascent—1H24 Result

FY24 revenue guidance, while lifted as a result of the strong 1H24 result, reflected management's caution on the outlook for hotel yields and...

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Serko: FY23 — Flying High

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