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

Hallenstein Glassons Holdings / Equity Bottom-Up

<ul><li>Hallenstein Glassons (HLG) provided a strong 18-week FY26 trading update with sales +13.8% on the prior year, accelerating from +12.9% in the seven-week trading update in September 2025.</li><li>Sales growth has been driven by continued strength in Australia, with contributions from new store openings, store expansions, and refurbishments completed in the last year.</li><li>With the key Christmas and summer trading periods ahead, management cautioned against extrapolating current momentum for the year ahead.</li></ul>

Hallenstein Glassons (HLG) provided a strong 18-week FY26 trading update with sales +13.8% on the prior year, accelerating from +12.9% in the seven-week trading update in September 2025.Sales growth has been driven by continued strength in Australia, with contributions from new store openings, store expansions, and refurbishments completed in the last year.With the key Christmas and summer trading periods ahead, management cautioned against extrapolating current momentum for the year ahead.

Hallenstein Glassons Holdings

Hallenstein Glasson - GROWING IN STYLE