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>We expect Freightways (FRW) to report a subdued FY24 result on 19 August 2024, primarily due to the depressed economic environment in New Zealand.</li><li>This has resulted in same customer volume declines, which will be exacerbated by the tail effect of labour cost pressures, lower paper prices, start-up costs for Big Chill's Ruakura facility, and higher depreciation and interest costs.</li><li>While the demand environment has lately further deteriorated, which may hinder outlook commentary more than FY24 earnings, we assume flat FY24 EBITA growth, helped by robust market share wins in domestic parcels. </li></ul>

We expect Freightways (FRW) to report a subdued FY24 result on 19 August 2024, primarily due to the depressed economic environment in New Zealand.This has resulted in same customer volume declines, which will be exacerbated by the tail effect of labour cost pressures, lower paper prices, start-up costs for Big Chill's Ruakura facility, and higher depreciation and interest costs.While the demand environment has lately further deteriorated, which may hinder outlook commentary more than FY24 earnings, we assume flat FY24 EBITA growth, helped by robust market share wins in domestic parcels. 

Freightways - FY24 Preview — Pick-Up Delayed

Freightways Ltd

Freightways - FY24 Preview — Pick-Up Delayed