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

Summerset Group Holdings / Equity Bottom-Up

<ul><li>Summerset (SUM) released its 4Q22 sales metrics with some brief comments on the current environment</li><li>Slowing, yes, but not grinding to a halt: Q4 resales and new sales were up +22% and +15% versus 4Q last year, respectively</li><li>Forecasts down ~-7–14% driven primarily by lower new sales but earnings are still growing</li></ul>

Summerset (SUM) released its 4Q22 sales metrics with some brief comments on the current environmentSlowing, yes, but not grinding to a halt: Q4 resales and new sales were up +22% and +15% versus 4Q last year, respectivelyForecasts down ~-7–14% driven primarily by lower new sales but earnings are still growing

Summerset Group: 4Q22 Sales — Not Immune to Slowdown