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) reported a strong FY26 result, +11% ahead of our expectations at the underling profit line.</li><li>Despite an improvement from FY25, OCA&#8217;s operating free cash flow remained negative in FY26.</li><li>OCA noted achieving positive operating free cash flow is a key goal for FY27, with dividends targeted to resume in FY27 or FY28.</li></ul>

Oceania Healthcare (OCA) reported a strong FY26 result, +11% ahead of our expectations at the underling profit line.Despite an improvement from FY25, OCA&#8217;s operating free cash flow remained negative in FY26.OCA noted achieving positive operating free cash flow is a key goal for FY27, with dividends targeted to resume in FY27 or FY28.

Oceania Healthcare (OCA): FY26 Result - Initial Impressions