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) delivered a solid FY26 result broadly in line with expectations.</li><li>Management framed FY27 as a year of ‘network groundwork’ rather than branch expansion, with no new retail sites scheduled to open.</li><li>The path to NZ$100m NPBT by FY31 is unlikely to be linear, with focus now shifting toward FY28 site delivery, Finance growth, and Auto Retail margin durability.</li></ul>

Turners Automotive (TRA) delivered a solid FY26 result broadly in line with expectations.Management framed FY27 as a year of ‘network groundwork’ rather than branch expansion, with no new retail sites scheduled to open.The path to NZ$100m NPBT by FY31 is unlikely to be linear, with focus now shifting toward FY28 site delivery, Finance growth, and Auto Retail margin durability.

Turners Automotive Group Ltd FY26: Another Record, Finance to Carry FY27