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>Fletcher Building's (FBU) FY24 result did little to ease concerns around its balance sheet.</li><li>While year end net debt was below expectations, it will rise over 1H25, despite asset sales.</li><li>Underlying demand continues to deteriorate, while new management has yet to take the helm, and unresolved, potentially large, known unknowns remain. </li></ul>

Fletcher Building's (FBU) FY24 result did little to ease concerns around its balance sheet.While year end net debt was below expectations, it will rise over 1H25, despite asset sales.Underlying demand continues to deteriorate, while new management has yet to take the helm, and unresolved, potentially large, known unknowns remain. 

Fletcher Building - FY24 Result — The Cycle Bites