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>KMD Brands' (KMD) FY22 result confirmed second half performance showed signs of strong revenue growth across most brands and channels</li><li>Inventory levels higher, likely to be supported by growing foot traffic and international tourism</li><li>Market continues to be cautious on retail — but KMD priced for value</li></ul>

KMD Brands' (KMD) FY22 result confirmed second half performance showed signs of strong revenue growth across most brands and channelsInventory levels higher, likely to be supported by growing foot traffic and international tourismMarket continues to be cautious on retail — but KMD priced for value

KMD Brands: FY22 Result — A Step in the Right Direction

Kathmandu Holdings

KMD Brands: FY22 Result — A Step in the Right Direction