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.

Thematic (Sector/Industry)

<ul><li>Four NZ-listed retailers report in September against a backdrop that has deteriorated since the positive start to 2026.</li><li>The August ASX reporting season reinforced that the NZ retail recovery remains patchy, but not entirely bleak, with some operators (notably JB Hi-Fi) delivering strong growth in a challenged market.</li><li>Quality of execution has become more important over recent months, and our preference heading into reporting season is for quality operators—with strong balance sheets (Hallenstein Glassons [HLG]).</li></ul>

Four NZ-listed retailers report in September against a backdrop that has deteriorated since the positive start to 2026.The August ASX reporting season reinforced that the NZ retail recovery remains patchy, but not entirely bleak, with some operators (notably JB Hi-Fi) delivering strong growth in a challenged market.Quality of execution has become more important over recent months, and our preference heading into reporting season is for quality operators—with strong balance sheets (Hallenstein Glassons [HLG]).

Retail Sector: Checking Out Reporting Season

Equity Bottom-Up

<ul>
<li>Spark NZ (SPK) has entered into an arrangement with Challenger Limited (CGF.AX) to create a new financing structure for the interest-free plans SPK offers to its customers to purchase mobile phones and other products.</li>
<li>This arrangement will see SPK sell ~NZ$240m of existing receivables to Challenger, reducing its net debt.</li>
<li>Importantly, SPK will also sell all future interest-free plan receivables to Challenger, eliminating the working capital drag from growing interest-free mobile handset sales.</li>
</ul>


Spark NZ (SPK) has entered into an arrangement with Challenger Limited (CGF.AX) to create a new financing structure for the interest-free plans SPK offers to its customers to purchase mobile phones and other products.
This arrangement will see SPK sell ~NZ$240m of existing receivables to Challenger, reducing its net debt.
Importantly, SPK will also sell all future interest-free plan receivables to Challenger, eliminating the working capital drag from growing interest-free mobile handset sales.


Australia

JB Hi-Fi Limited is a music and electronic goods retailer in Australia.  The Company operates stores at sites located in most Australian States.  Products include consumer electronics, car sound systems, music and DVDs.

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JB Hi-Fi Ltd (JBH AU)

Retail Sector: Checking Out Reporting Season

Four NZ-listed retailers report in September against a backdrop that has deteriorated since the positive start to 2026. The August ASX reporting...

Forsyth Barr

Spark NZ A New Phone For Christmas

Spark NZ (SPK) has entered into an arrangement with Challenger Limited (CGF.AX) to create a new financing structure for the interest-free plans SPK...

Forsyth Barr

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52-week Range

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