Yeah…I reckon it’s good to see. Still got 2.2 mil shares. Not exactly no skin in the game. Bit of a laugh if he’s investing in real estate. Might be a nice boat. With inflation starting to rear its head, one wouldn’t like to be holding to much cash.
Sadly had to bail on this position recently - had a better opportunity identified and needed to choose which of my other investments to quit - TRA sort of was the prime candidate to liquidate ironically because it had done so well already, at $4.50 it was close to managements recent aspiration of $5, and with the rising price the yield was looking less attractive compared to other holdings.
It was a nice ride, but had to drive off into the sunset away from the TRA party for now. Might return in future though.
would help if management set some bigger long term aspirations (I was hoping entering the Australian market would be it, but that doesn’t sound like it’s on the radar anytime soon).
Byrnes sold 215k shares for average $4.46 ..... and he gets the 6 cents divie as well in week or so.....well done that man
His sales were 65% of the volume traded in that period
been a bit of selling last few days .... another day like today and it'll be $3 something
Gez - the market is a sea of red ink on closing today
what happen - did we get another lockdown ? ;)
Not quite sure this would do the company or the share price any good. Ways more NZ companies around who came back from Australia with a bloody nose rather than with a bag of dosh.
The risks I see:
Turners have no relevant name / brand / business experience in Australia, they would have to deal with different rules and authorities and the unions over there play a different tune as well. As well - plenty of competition who already knows the rules of the game.
Any benefits? Not sure - which advantages would a NZ used car dealer have in Australia?
it’s more about future growth prospects for me. Australia is 5 times the size of the NZ market, so Turners wouldn’t have to achieve very high penetration to significantly increase its turnover. There is only so much Turners can grow in NZ, given it already is present in all the main centers, Australia would seem the obvious next step.
I doubt Neville Crichton is the only NZ car dealer who has made millions in Australia.
Yes TRA did look at Australia a few years ago.Also looked at new vehicle dealerships too.Walked away from both.
ps Paul Byrnes did sell some shares two or three years ago to develop a restaurant.Not sure whether it was a building or building and restaurant business.
I remember way back when the price was crashing he was buying. I would think he would still be at a loss on those given the 10 for 1 consolidation. Also remember that immediately after DPC came out of moratorium the board voted him a large financial assistance to buy more.