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>We expect Auckland Airport's (AIA) retail business to feature more prominently over the next 12 months, after taking a back seat through COVID and during the regulatory focus of 2023.</li><li>It's an important value driver for AIA, accounting for almost one third of NPAT and generating a very attractive return on capital.</li><li>In the decade prior to COVID retail income had grown strongly, a function of passenger (pax) growth, international departures space expansion, improving pax mix with growth in Chinese arrivals, improving concession yield and minimum annual guarantees (MAG), and the development of off-airport duty-free retail. </li></ul>

We expect Auckland Airport's (AIA) retail business to feature more prominently over the next 12 months, after taking a back seat through COVID and during the regulatory focus of 2023.It's an important value driver for AIA, accounting for almost one third of NPAT and generating a very attractive return on capital.In the decade prior to COVID retail income had grown strongly, a function of passenger (pax) growth, international departures space expansion, improving pax mix with growth in Chinese arrivals, improving concession yield and minimum annual guarantees (MAG), and the development of off-airport duty-free retail. 

Auckland Intl Airport

Auckland Airport - Call of Duty Free