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

Summerset Group Holdings / Equity Bottom-Up

<ul><li>Summerset Group (SUM) reported strong FY23 underlying earnings and annuity EBITDA, driven by robust resale and new sale gains, partly offset by higher costs.</li><li>All time high resale margins were the stand out, an extraordinary achievement given the weak housing market.</li><li>SUM guided for &gt;+10% growth in unit deliveries for FY24. Strong margins and an increased build rate suggests high demand for SUM's product. </li></ul>

Summerset Group (SUM) reported strong FY23 underlying earnings and annuity EBITDA, driven by robust resale and new sale gains, partly offset by higher costs.All time high resale margins were the stand out, an extraordinary achievement given the weak housing market.SUM guided for &gt;+10% growth in unit deliveries for FY24. Strong margins and an increased build rate suggests high demand for SUM's product. 

Summerset Group  - FY23 — Less Cash, More of Everything Else