Off course.!!!
But wait there's more!
Pension Monday night.!
GNE divie next Thursday night.!
Long weekend means the pension is there already.!
Among other news relating to TRA some interesting development re their CL8 association
"Nov 12 (Reuters) - Collaborate Corporation Ltd (CL8) :
- SEEKS TRADING HALT PENDING ANNOUNCEMENT ON CAPITAL RAISING AND A MATERIAL COMMERCIAL AGREEMENT FOR SUPPLY OF VEHICLES"....
Heartland say they make ‘superior returns’ from motor vehicle lending - like >15% ROE
Turners tried to hock off their finance arm because of inferior returns but couldn’t find a buyer
Weird
I would say you are right BP, HB also tied up with Winger Subaru I saw the other day driving past the yard in Greenlane
Yes,HGH fund mainly new vehicle franchise dealers,:Jaguar/Land Rover,Holden,and now Kia.Yet their used car finance is still bigger than new cars lending.
With HGH "upgrading" the quality of their originators,% of poor loans is very low.Intersting to is the size of HGH average motor vehicle loans has increased substantially from approx $18,500 to nearer $26,000.
TRA are the Pak"n Save of the used car market.Their market is under $20,000 ,with under $10,000 making up their biggest sector,therefore their average loan is approx $8,000 and their clientele are not as "well heeled" as the franchised dealers.
Turners still earn over 15% ROE on vehicle sales,however finance is currently still well below this level.This will slowly improve,and will greatly improve when the MTF non-recourse lending book has run its course.Longer term,maybe not quiet up to HGH's level,but a lot better than currently.
Best thing that’s ever happened since sliced bread
Turners and Heartland working together
http://nzx-prod-s7fsd7f98s.s3-websit...258/311811.pdf
My thoughts exactly.!!
A very positive announcement.