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 (FRE) is likely to report solid earnings growth in its 1H23 result on 20 February 2023, driven by a robust first quarter (EBITA +8%), the first time contribution of Allied Express and more normalised activity levels in Information Management.</li><li>Several headwinds will also feature, including parcel volume weakness from the ecommerce post-COVID normalisation, a weakening economy, and margin pressure, particularly in Information Management</li><li>Despite an unsupportive macro backdrop, we expect FRE will continue to generate earnings growth over the near term. ​​​​​​​</li></ul>

Freightways (FRE) is likely to report solid earnings growth in its 1H23 result on 20 February 2023, driven by a robust first quarter (EBITA +8%), the first time contribution of Allied Express and more normalised activity levels in Information Management.Several headwinds will also feature, including parcel volume weakness from the ecommerce post-COVID normalisation, a weakening economy, and margin pressure, particularly in Information ManagementDespite an unsupportive macro backdrop, we expect FRE will continue to generate earnings growth over the near term. ​​​​​​​

Freightways: 1H23 Preview — Allied in Resilience

Freightways Ltd

Freightways: 1H23 Preview — Allied in Resilience