Yes.....hopefully it will continue to move in the right direction !
www.carly.co.nz is now active, though currently it redirects to www.carly.co in Ozzieland. Looks like Turners won't have an 'own brand' online car subscription service and are positioned solely as a supplier and administrator of cars for the Carly service like the current business model in Australia. Makes one wonder how Turners will market this. Still saying launch this year. Should be some financial results due soon from CL8 on how the very new Carly subscription service is performing.
https://www.asx.com.au/asxpdf/201909...lb3sq9xb8g.pdf
I note there hasn't been any daily buying of shares under the buyback since Monday... potentially intriguing reasons why this is the case I reckon.
And despite lack of buyback, the share price still managed to rise from $2.36 [Tuesday open] to $2.40 (well, up to $2.40 - hopefully the share price will stay there this time!... still, at $2.37, it is up a notch and outperformed NZX 50)
When my friend bought their car from Turners recently they also took out $600 mechanical insurance, great ticket clipping there! They have definitely outgrown the yard in Tauranga but told me they havn't yet found premises in a suitable location,big enough to expand to .A nice problem to have.
Definitely an undervalued stock, particularly when the market currently values it for little or no growth, yet theres plenty of growth coming. They have 9 new sites opening in the next 2 years.
They will be flushed with cash given they earn a great net profit, will be selling oxford finance and later EC Credit Control. Paying a 7% dividend and on top of that doing a share buyback, not to mention getting into car subscription that will utilize their assets in a more advantageous way. This should be a $4-5 stock on present earnings and potential, so I'd agree with the CEO this stock is terribly undervalued.
Full moon does funny things to people ...clouds their judgement ...and gets some punters over the xcited
Of course TRA is horrendously undervalued