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>Global proteins earnings underpin group earnings</li><li>Horticulture earning weakness driven by Chinese lockdowns impacting prices and poor weather</li><li>Cyclone Gabrielle impact still unclear, but we update our high level earnings estimates</li></ul>

Global proteins earnings underpin group earningsHorticulture earning weakness driven by Chinese lockdowns impacting prices and poor weatherCyclone Gabrielle impact still unclear, but we update our high level earnings estimates

Scales: FY22 Result — Global Proteins Bearing Fruit

Scales Corp Ltd

Scales: FY22 Result — Global Proteins Bearing Fruit