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>Oceania Healthcare (OCA) delivered results in line with lowered expectations, showing slight cost and net debt declines, but disappointing cash flow from existing operations.</li><li>Sales in general, and for The Helier in particular, have improved, with FY25 ORA sales being a record for OCA despite a soft housing market.</li><li>While the company delivered on major focus areas, several minor items fell short, leading to a reduction in earnings expectations.</li></ul>

Oceania Healthcare (OCA) delivered results in line with lowered expectations, showing slight cost and net debt declines, but disappointing cash flow from existing operations.Sales in general, and for The Helier in particular, have improved, with FY25 ORA sales being a record for OCA despite a soft housing market.While the company delivered on major focus areas, several minor items fell short, leading to a reduction in earnings expectations.

Oceania Healthcare FY25 Result The Painfully Slow Recovery Starts