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

Radius Residential Care / Equity Bottom-Up

<ul><li>Radius Residential Care (RAD) has announced the acquisition of the Karori Village care home in Wellington from Metlifecare for NZ$13.6m (with settlement expected in late May 2026).</li><li>We view the transaction as attractive, supported by management's expectation for the home to be immediately NPAT accretive in FY27.</li><li>Our blended spot valuation rises +2cps to NZ$0.54.</li></ul>

Radius Residential Care (RAD) has announced the acquisition of the Karori Village care home in Wellington from Metlifecare for NZ$13.6m (with settlement expected in late May 2026).We view the transaction as attractive, supported by management's expectation for the home to be immediately NPAT accretive in FY27.Our blended spot valuation rises +2cps to NZ$0.54.

Radius Residential Care Care Arrives In The Capital

<ul><li>Radius Residential Care (RAD) has completed the acquisition of 4.3 hectares of land in Belfast, Christchurch.</li><li>The acquisition marks further progress in RAD’s mixed model (owned and leased) expansion strategy.</li><li>We remain positive on RAD’s outlook, with its capital-light portfolio expansion and favourable demographic tailwinds underpinning a robust earnings growth runway.</li></ul>

Radius Residential Care (RAD) has completed the acquisition of 4.3 hectares of land in Belfast, Christchurch.The acquisition marks further progress in RAD’s mixed model (owned and leased) expansion strategy.We remain positive on RAD’s outlook, with its capital-light portfolio expansion and favourable demographic tailwinds underpinning a robust earnings growth runway.

Thematic (Sector/Industry)

<ul><li>Improving care profitability was a key theme of the May 2026 reporting season for NZ’s listed retirement and aged care sector.</li><li>Looking ahead to FY27, we expect a further meaningful uplift in care profitability for RYM and OCA, supported by a ~+4% increase in care funding from the NZ Government and ongoing occupancy tailwinds.</li><li>Despite improving earnings trends overall, returns on aged care assets in NZ remain well below the cost of capital for operators.</li></ul>

Improving care profitability was a key theme of the May 2026 reporting season for NZ’s listed retirement and aged care sector.Looking ahead to FY27, we expect a further meaningful uplift in care profitability for RYM and OCA, supported by a ~+4% increase in care funding from the NZ Government and ongoing occupancy tailwinds.Despite improving earnings trends overall, returns on aged care assets in NZ remain well below the cost of capital for operators.

Retirement And Aged Care Sector Care Vital Signs Improving

New Zealand

Radius Residential Care Limited provides health care services. The Company offers in-house training, on-going skills development, and residential aged care facilities. Radius Residential Care serves patients in New Zealand.

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Radius Residential Care (RAD NZ)

Radius Residential Care Care Arrives In The Capital

Radius Residential Care (RAD) has announced the acquisition of the Karori Village care home in Wellington from Metlifecare for NZ$13.6m (with...

Forsyth Barr

Radius Residential Care Beds in Belfast

We remain positive on RAD’s outlook, with its capital-light portfolio expansion and favourable demographic tailwinds underpinning a robust earnings...

Forsyth Barr

Retirement And Aged Care Sector Care Vital Signs Improving

Improving care profitability was a key theme of the May 2026 reporting season for NZ’s listed retirement and aged care sector. Looking ahead to...

Forsyth Barr

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