This picture shows what a disappointing performance looks like
Turners Group made $0.3m more
Buy Right Cars made $0.9m LESS
Finance made $0.1m LESS
Insurance made $0.3m more
Property Profit of $3.5m a bonus
EC Credit made $0.3m LESS
This picture shows what a disappointing performance looks like
Turners Group made $0.3m more
Buy Right Cars made $0.9m LESS
Finance made $0.1m LESS
Insurance made $0.3m more
Property Profit of $3.5m a bonus
EC Credit made $0.3m LESS
They told Beagle at the AGM these MTF loans weren't a worry any more.
From that picture
Finance result materially impacted by impairment in the MTF non-recourse channel
Not yet .....waiting for the buyback to kick in in earnest (doesn’t start until Friday) ....and hoping like mad I’ll get more than 257
Good gamble though ...just imagine if they had held of with this veiled profit downgrade....which was worse than Metro’s downgrade
You never know in a day or so I might decide to hold forever ...like Metro things have to come right sometime
Correction they tried to tell Beagle ….
Dog's been around the block a few times and knows old non recourse loans hang around and impact for a long time...worse than your mother in law outstaying her welcome over the Christmas holidays. Those loans will keep biting in 2H and 1H FY20 as well....might be down to the tail of the ugly mutts by 2H FY20. You see that 8% of them are overdue :eek2: Arrears in general up significantly this year compared to last year. Thing is this Labour Govt told us their new families package which kicked into effect 1 July 2018 was going to make a huge difference to families living standards...it probably has so they're buying new vehicles instead of second hand and why not with the interest free deals, long new car warranties and excellent fuel efficiency of smaller new cars these days. Sister in law bought a new Suzuki Swift on interest free terms a while back. Laughing all the way to the bank with fuel consumption of only 5.6L per 100 km's. Reckons the fuel savings help pay the car off.
As dodgy as some of their motors
Hi Percy, I do not think you look foolish at all. You have made so many excellent call on companies which were under valued.
One should be able to trust the information a public companies give out.
I think in TRA case it is the body language of the deputy Chair at the AGM and the lack of a Chairman at the AGM which gives away that things are not the way with this company as they are trying to project.
Brian Gaynor had a story about FBU in the weekend and stated that the lack of energy of board members was a problem for FBU.
Sadly TRA chairman not turning up at a number of meetings must be the ultimate of lacking energy for the roll he is paid for.