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>Air &amp; sea freight rates benefit has peaked: Freight industry growth rates continue to be dominated by air and sea freight forwarding, driven by the freight rate super-cycle</li><li>Impressive margin expansion in LTL: LTL sector is enjoying impressive margin expansion as industry rates (particularly in the US market) are more than offsetting higher cost inflation</li><li>Warehousing growth more subdued: Warehousing sector momentum is positive, though growth rates are less impressive than in other freight segments</li></ul>

Air &amp; sea freight rates benefit has peaked: Freight industry growth rates continue to be dominated by air and sea freight forwarding, driven by the freight rate super-cycleImpressive margin expansion in LTL: LTL sector is enjoying impressive margin expansion as industry rates (particularly in the US market) are more than offsetting higher cost inflationWarehousing growth more subdued: Warehousing sector momentum is positive, though growth rates are less impressive than in other freight segments

Mainfreight: Peers Suggest Peak Growth in Rear View Mirror

Mainfreight Ltd

Mainfreight: Peers Suggest Peak Growth in Rear View Mirror