New Zealand Professional Investment Services Firm

Forsyth Barr

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.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Freightways (FRW) reported a subdued, but commendable, FY24 result, given cyclical demand pressures and continued elevated cost inflation.</li><li>Underlying EPS declined -5% against the prior year, on EBITA growth of +3%. We expect FY24 will be the trough in this earnings cycle.</li><li>The challenging demand environment, together with temporary losses at Big Chill Ruakura and Med-X Victoria, held back profit growth, despite an additional three months of Allied Express. </li></ul>

Freightways (FRW) reported a subdued, but commendable, FY24 result, given cyclical demand pressures and continued elevated cost inflation.Underlying EPS declined -5% against the prior year, on EBITA growth of +3%. We expect FY24 will be the trough in this earnings cycle.The challenging demand environment, together with temporary losses at Big Chill Ruakura and Med-X Victoria, held back profit growth, despite an additional three months of Allied Express. 

Freightways - FY24 — Cycle Path No Longer Diverting Margin Recovery Route

Freightways Ltd

Freightways - FY24 — Cycle Path No Longer Diverting Margin Recovery Route