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>Serko's (SKO) FY24 result delivered no major surprises, with key metrics pre-released in April.</li>
<li>The main positive was cost control as SKO held total spend essentially flat in FY24 and below our expectations.</li>
<li>However, outlook statements disappointed. SKO has walked away from its FY25 total income target of &gt;NZ$100m, with its revised FY25 guidance range of NZ$85m–NZ$92m implying downgrades to consensus estimates, albeit in-line with our forecast. </li>
</ul>


Serko's (SKO) FY24 result delivered no major surprises, with key metrics pre-released in April.
The main positive was cost control as SKO held total spend essentially flat in FY24 and below our expectations.
However, outlook statements disappointed. SKO has walked away from its FY25 total income target of &gt;NZ$100m, with its revised FY25 guidance range of NZ$85m–NZ$92m implying downgrades to consensus estimates, albeit in-line with our forecast. 


Serko - Lowering the Flight Course for FY25

Serko Ltd

Serko - Lowering the Flight Course for FY25