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>Arvida Group (ARV) delivered a confident 1H23 result, slightly ahead of our expectations, driven by very strong resales gains partly offset by higher than expected operating expenses</li><li>Slowing down to speed up; three levers of growth may just be one too many in these markets</li><li>Pay parity for nurses: the signal and the noise</li></ul>

Arvida Group (ARV) delivered a confident 1H23 result, slightly ahead of our expectations, driven by very strong resales gains partly offset by higher than expected operating expensesSlowing down to speed up; three levers of growth may just be one too many in these marketsPay parity for nurses: the signal and the noise

Arvida Group: 1H23 Result — Slowing Down to Speed Up