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>The curse of the incumbent; SPK will likely experience significant cloud headwinds for several years to come</li><li>Free cash flow declining again thanks to growth capex: SPK has delivered admirable growth in free cash flow over the last five years and are back to growing its dividends.</li><li>Mobile still strong — but easy wins from One NZ are likely behind us as One NZ has improved its service levels </li></ul>

The curse of the incumbent; SPK will likely experience significant cloud headwinds for several years to comeFree cash flow declining again thanks to growth capex: SPK has delivered admirable growth in free cash flow over the last five years and are back to growing its dividends.Mobile still strong — but easy wins from One NZ are likely behind us as One NZ has improved its service levels 

Spark NZ: Running Fast, Moving Slow; Down to NEUTRAL

Spark New Zealand

Spark NZ: Running Fast, Moving Slow; Down to NEUTRAL