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>Fletcher Building (FBU) is set to update the market on its strategic review, which has shifted towards an operating review to avoid selling assets at low multiples during depressed earnings cycles.</li><li>The company plans to focus on operational improvements, including a more decentralized operating model, closure of loss-making businesses, and cost reductions, to enhance shareholder returns.</li><li>Capital and balance sheet management remains a priority, with no immediate plans to sell any business segments despite unsolicited inquiries for its Construction business.</li></ul>

Fletcher Building (FBU) is set to update the market on its strategic review, which has shifted towards an operating review to avoid selling assets at low multiples during depressed earnings cycles.The company plans to focus on operational improvements, including a more decentralized operating model, closure of loss-making businesses, and cost reductions, to enhance shareholder returns.Capital and balance sheet management remains a priority, with no immediate plans to sell any business segments despite unsolicited inquiries for its Construction business.

Fletcher Building

Fletcher Building - Investor Day V.2025