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>Winton (WIN) reported a solid FY26 result, with NPAT up +120% to NZ$22.7m, driven by a strong pick-up in residential-lot sales in the second half.</li><li>The Commercial segment was stronger than expected with revenue up +69%, supported by the first full year of trading across the Ayrburn precinct and the opening of Bravo at Cracker Bay.</li><li>WIN’s busy year was rounded out with Fast-track approval of Sunfield, which could unlock significant value.</li></ul>

Winton (WIN) reported a solid FY26 result, with NPAT up +120% to NZ$22.7m, driven by a strong pick-up in residential-lot sales in the second half.The Commercial segment was stronger than expected with revenue up +69%, supported by the first full year of trading across the Ayrburn precinct and the opening of Bravo at Cracker Bay.WIN’s busy year was rounded out with Fast-track approval of Sunfield, which could unlock significant value.

Winton Land FY26 Result—Strong Finish Despite the Noise

Winton Land Ltd

Winton Land FY26 Result—Strong Finish Despite the Noise