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>Web visitation data for Booking.com for Business (B4B) suggests that Serko (SKO) is tracking above the top end of its total income guidance of NZ$85m–NZ$92m for FY25.</li><li>We are cautious to overly extrapolate historic trends between visitations and completed room nights (CRN), given: (1) a limited number of data points; and (2) a likely weakening of the relationship between these variables.</li><li>As B4B’s user base matures, we expect users to spend more time managing travel versus booking it. </li></ul>

Web visitation data for Booking.com for Business (B4B) suggests that Serko (SKO) is tracking above the top end of its total income guidance of NZ$85m–NZ$92m for FY25.We are cautious to overly extrapolate historic trends between visitations and completed room nights (CRN), given: (1) a limited number of data points; and (2) a likely weakening of the relationship between these variables.As B4B’s user base matures, we expect users to spend more time managing travel versus booking it. 

Serko Ltd

Serko - Checking In on B4B Web Data