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>Port of Tauranga (POT) will report a strong 1H25 result on 28 February 2025. We expect underlying NPAT growth of +23%, albeit against a relatively weak prior period.</li><li>Growth will be driven by a combination of improved trade volumes, particularly containers, higher marine income from more vessels and price increases, and lower unit rail costs for MetroPort containers given enhanced service utilisation.</li><li>Overall unit pricing growth in this period is likely to be small, reflective of adverse mix and the timing of container-shipping customer contract renewals. </li></ul>

Port of Tauranga (POT) will report a strong 1H25 result on 28 February 2025. We expect underlying NPAT growth of +23%, albeit against a relatively weak prior period.Growth will be driven by a combination of improved trade volumes, particularly containers, higher marine income from more vessels and price increases, and lower unit rail costs for MetroPort containers given enhanced service utilisation.Overall unit pricing growth in this period is likely to be small, reflective of adverse mix and the timing of container-shipping customer contract renewals. 

Port of Tauranga - 1H25 Preview—Full Steam Ahead