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>Steel &amp; Tube’s (STU) four-month trading update highlighted that its volumes are stabilising and prices are improving.</li><li>Further, the Perry Metal Protection (Perry) acquisition is performing ahead of expectations.</li><li>Whilst STU sees itself as a natural consolidator of the fragmented NZ steel industry, any near-term acquisitions would likely require additional equity.</li></ul>

Steel &amp; Tube’s (STU) four-month trading update highlighted that its volumes are stabilising and prices are improving.Further, the Perry Metal Protection (Perry) acquisition is performing ahead of expectations.Whilst STU sees itself as a natural consolidator of the fragmented NZ steel industry, any near-term acquisitions would likely require additional equity.

Steel & Tube Holdings Perry Protecting Profits