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>Sanford (SAN) reported a positive 1H23 result, underpinned by strong performance in the salmon division</li><li>SAN announced the exit of its underperforming inshore operations which form part of the wildcatch division</li><li>SAN will sell its annual catch entitlements (ACE) to Moana New Zealand for a minimum term of 10 years (but retain ownership of the underlying quota assets)</li></ul>

Sanford (SAN) reported a positive 1H23 result, underpinned by strong performance in the salmon divisionSAN announced the exit of its underperforming inshore operations which form part of the wildcatch divisionSAN will sell its annual catch entitlements (ACE) to Moana New Zealand for a minimum term of 10 years (but retain ownership of the underlying quota assets)

Sanford: 1H23 Result — Charting New Territory

Sanford Limited

Sanford: 1H23 Result — Charting New Territory