Wasn't it supposed to be $5 by now?
No way have they earned a director fee increase.
You have only taken 2 data points. What was it compared with 2013?
Also you are comparing apples with oranges. Is your wage award linked to the EPS of your firm or the complexity of your task and the skillset your provide?
P.s I am not here to defend them to the death, just being as pragmatic as I can be. I have little skin in the game, am a shareholder, but have only a small holding now as I switched to 2cc a few months ago.
In 2013, they were a finance company called Dorchester so not that comparable. I matched the time period you used which seemed reasonable, 5 years.
Surely long term EPS growth is the best way to measure director results? They are employed to sustainably grow the company over time with good judgement not for any specific skillset.
I think they have done pretty well btw as the growth in EPS shows, but a 38% increase is excessive.
I also own both 2CC and TRA. Was surprised by Todd's claim that "It wasn’t seeing a significant shift to purchasing electric vehicles in the second-hand market because it had few on hand - Hunter said imported EVs were difficult to source [from] Japan" when 2CC are doing exactly that and EVs are already 50%+ of 2CC sales.
With the July 1 increase in tax subsidy for second hand EVs you could argue that Turner's directors were asleep at the wheel while the market was changing. Their strategy of relying mostly on the NZ market to supply cars to sell is starving them of EVs.
Happy to bank another juicy qtr divvy, very handy in current climate of rising costs
Lets look at facts;
Turners say they have 7% of the market and they currently hold 5% of market inventory (about 3500 cars) while 2CC hold just 500 cars.
Lets also put some actual numbers to this using inventory of cars today
NZ Market; 3.4% EVs 2418/71218
Turners; 2.8% or 101/3636
2CC; 3.7% or 21/574
BTW, 3.4% market inventory should be termed "few on hand". Turners need ~120 vehicles to match the market while 2CC need just 16, they have 21, so 5 EVs are very few cars to change the stats.
2CC have recently increased their total inventory from 430 just 2 weeks ago to 574 today, so may have taken a new delivery of 21 EVs, ie their numbers are too small to be reliable for a detailed comparison.
This shows no significant difference between the NZ market, Turners or 2CC
One of those car carrying ships came into Wellington the other ….probably full of new cars
Another 3 due in August