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>Capex guidance cuts and more projects were the main features of Manawa Energy's (MNW) 1H24 result.</li><li>Revised capex guidance effectively reversed the capex increases from six months ago, enabling us to reverse our divided reductions and lift our target price +13cps (+3.7%) to NZ$3.60.</li><li>The result itself was a moderate miss with revenue lower than estimated. </li></ul>

Capex guidance cuts and more projects were the main features of Manawa Energy's (MNW) 1H24 result.Revised capex guidance effectively reversed the capex increases from six months ago, enabling us to reverse our divided reductions and lift our target price +13cps (+3.7%) to NZ$3.60.The result itself was a moderate miss with revenue lower than estimated. 

Manawa Energy - Capex Reversal — 1H24 Result

Manawa Energy Ltd

Manawa Energy - Capex Reversal — 1H24 Result