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>Briscoes Group (BGP) delivered an in-line 1H26 result at the bottom line.</li><li>BGP also guided to full-year NPAT of 'around NZ$60m'—an -11% fall versus FY25 and the third consecutive annual earnings decline for the business.</li><li>We continue to view the risk–reward as skewed to the downside.</li></ul>

Briscoes Group (BGP) delivered an in-line 1H26 result at the bottom line.BGP also guided to full-year NPAT of 'around NZ$60m'—an -11% fall versus FY25 and the third consecutive annual earnings decline for the business.We continue to view the risk–reward as skewed to the downside.

Briscoe Group 1H26 Result—Paying Full Price