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>Synlait Milk's (SML) 1H24 result had few redeeming features.</li><li>Profitability is under significant pressure, transparency on key drivers remains low and the balance sheet remains an area of significant concern.</li><li>Notwithstanding North Island (NI) asset sales, the outlook is very challenged (~NZ$310m of debt payments due over the next eight months). </li></ul>

Synlait Milk's (SML) 1H24 result had few redeeming features.Profitability is under significant pressure, transparency on key drivers remains low and the balance sheet remains an area of significant concern.Notwithstanding North Island (NI) asset sales, the outlook is very challenged (~NZ$310m of debt payments due over the next eight months). 

Synlait Milk - 1H24 Result — Push Comes to Shove