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

Turners Automotive Group / Equity Bottom-Up

<ul><li>TRA delivered a record, albeit well-signalled, FY26 result.</li><li>The company declared a 9.0cps fully imputed final dividend, as expected, taking FY26 DPS to 33.0cps (+14% on FY25).</li><li>TRA reiterated that it remains on track to achieve its NZ$65.0m FY28 NPBT target a year early.</li></ul>

TRA delivered a record, albeit well-signalled, FY26 result.The company declared a 9.0cps fully imputed final dividend, as expected, taking FY26 DPS to 33.0cps (+14% on FY25).TRA reiterated that it remains on track to achieve its NZ$65.0m FY28 NPBT target a year early.

Turners Automotive (TRA): FY26 Initial Impressions Solid And Inline