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>Delegat Group (DGL) has downgraded its FY24 operating NPAT guidance range, and forecasts lower case sales volumes over the next three years versus its last update.</li><li>The new NPAT guidance range is NZ$57m to NZ$61m, compared to NZ$62m to NZ$67m. At the midpoint this represents broadly flat earnings growth from FY23.</li><li>Management pointed to channel destocking across distributors and retailers for lower-than-expected case sales volumes, and this is consistent with increased competition and discounting across peers. </li></ul>

Delegat Group (DGL) has downgraded its FY24 operating NPAT guidance range, and forecasts lower case sales volumes over the next three years versus its last update.The new NPAT guidance range is NZ$57m to NZ$61m, compared to NZ$62m to NZ$67m. At the midpoint this represents broadly flat earnings growth from FY23.Management pointed to channel destocking across distributors and retailers for lower-than-expected case sales volumes, and this is consistent with increased competition and discounting across peers. 

Delegat

Delegat Group - A Sober Choice