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>Turners Automotive (TRA) reported a solid 1H26 result, slightly ahead of expectations, with NPBT up +13% to NZ$30.4m despite a subdued New Zealand economy.</li><li>Revenue increased +5% to NZ$219m, underscoring TRA’s ability to navigate a sluggish economy and constrained vehicle supply.</li><li>TRA reiterated its FY26 dividend guidance of at least NZ32c per share (+10% against the prior year), while FY26 NPBT guidance of around NZ$60m implies +11% growth on FY25.</li></ul>

Turners Automotive (TRA) reported a solid 1H26 result, slightly ahead of expectations, with NPBT up +13% to NZ$30.4m despite a subdued New Zealand economy.Revenue increased +5% to NZ$219m, underscoring TRA’s ability to navigate a sluggish economy and constrained vehicle supply.TRA reiterated its FY26 dividend guidance of at least NZ32c per share (+10% against the prior year), while FY26 NPBT guidance of around NZ$60m implies +11% growth on FY25.

Turners Automotive Group Ltd 1H26 Driving Through A Low-Speed Economy