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>Spark NZ (SPK) issued an uncharacteristic earnings downgrade, citing cyclical headwinds in both its IT services and mobile device sales.</li><li>We have no doubt these are the core drivers behind the downgrade.</li><li>That said, it is untimely. The IT services division has been a serial disappointment over the last couple of years, with SPK failing to reach its expectations in FY22 and FY23.</li></ul>

Spark NZ (SPK) issued an uncharacteristic earnings downgrade, citing cyclical headwinds in both its IT services and mobile device sales.We have no doubt these are the core drivers behind the downgrade.That said, it is untimely. The IT services division has been a serial disappointment over the last couple of years, with SPK failing to reach its expectations in FY22 and FY23.

Spark New Zealand

Spark NZ - Cyclical or Structural?