New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

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.

Equity Bottom-Up

Sky Network Television / Equity Bottom-Up

<ul><li>Netflix’s acquisition of Warner Bros. (WB) has potential implications for Sky TV (SKT) and, in particular, Neon.</li><li>Given SKT’s existing deal and acquisition timing, the impact to FY26 for SKT is likely to be minimal, but FY27 and beyond have become slightly more uncertain.</li><li>We leave our forecasts unchanged for now and retain OUTPERFORM, with its 13% 12-month forward gross yield attractive and free cashflow set to grow from its sports and ad platforms.</li></ul>

Netflix’s acquisition of Warner Bros. (WB) has potential implications for Sky TV (SKT) and, in particular, Neon.Given SKT’s existing deal and acquisition timing, the impact to FY26 for SKT is likely to be minimal, but FY27 and beyond have become slightly more uncertain.We leave our forecasts unchanged for now and retain OUTPERFORM, with its 13% 12-month forward gross yield attractive and free cashflow set to grow from its sports and ad platforms.

Japan

H2O RETAILING CORPORATION founded in Osaka in 1929, operates railway terminal department stores.  The Company's main store is located at Hankyu terminal in Umeda (Osaka) and sells clothing, foods, sundry goods, furniture, and household utensils.  H2O Retailing also operates restaurants and coffee shops.

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H2O Retailing (8242 JP)

Sky TV A New Cast For Next Season?

Given SKT’s existing deal and acquisition timing, the impact to FY26 for SKT is likely to be minimal, but FY27 and beyond have become slightly more...

Forsyth Barr

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