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

Heartland Group Holdings / Equity Bottom-Up

<ul><li>Heartland Group (HGH) delivered a soft but in-line FY25 result.</li><li>Guidance for FY26 (NPAT &gt;NZ$85m) was marginally ahead of our prior expectations.</li><li>HGH’s new-originations momentum is strong despite a competitive market.</li></ul>

Heartland Group (HGH) delivered a soft but in-line FY25 result.Guidance for FY26 (NPAT &gt;NZ$85m) was marginally ahead of our prior expectations.HGH’s new-originations momentum is strong despite a competitive market.

Heartland Group FY25 Result—Accelerating In Reverse