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

Fisher & Paykel Healthcare Cor / Equity Bottom-Up

<ul>
<li>1H27 guidance: Like-for-like NPAT guidance is ~+5% ahead of our expectations and ~+9% ahead of consensus</li>
<li>FY27 guidance: Small upgrades when excluding tariff (+NZ$16m NPAT tailwind) and FX moves (~-NZ$10m revenue and NPAT headwind)</li>
<li>ASM Tuesday 25 August: This update is consistent with FPH’s history of providing a trading update at or around its ASM.</li>
</ul>


1H27 guidance: Like-for-like NPAT guidance is ~+5% ahead of our expectations and ~+9% ahead of consensus
FY27 guidance: Small upgrades when excluding tariff (+NZ$16m NPAT tailwind) and FX moves (~-NZ$10m revenue and NPAT headwind)
ASM Tuesday 25 August: This update is consistent with FPH’s history of providing a trading update at or around its ASM.


F&P Healthcare (FPH): Strong 1H27 Trading Update and Increased FY27 Guidance