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>Restaurant Brands (RBD) has reported a weaker 1H22 result relative to the prior year, but in line with guidance provided at the 2Q update in July</li><li>RBD expects margins and cost inflation will stabilise over the second half of FY22</li><li>RBD has provided updated guidance for FY22 of NZ$32-NZ$37m</li></ul>

Restaurant Brands (RBD) has reported a weaker 1H22 result relative to the prior year, but in line with guidance provided at the 2Q update in JulyRBD expects margins and cost inflation will stabilise over the second half of FY22RBD has provided updated guidance for FY22 of NZ$32-NZ$37m

Restaurant Brands (RBD): 1H22 Result – Initial Impressions

Restaurant Brands NZ

Restaurant Brands (RBD): 1H22 Result – Initial Impressions