TRA - Turners Automotive Group [previously TNR - Turners Limited]

[Joshuatree]

Looking great and div sustainable, great outlook and covid weathering(sold 600 cars during lockdown). I bought back in @$2.20 cum div.

[sb9]

Some good snippets around business operations from Todd, very encouraging and pleasing. Like their new "Buy safe" concept launched during lockdown.

[pierre]

Excellent - finally back at break even at 255! Projected dividend of 17c gives a gross yield of 9.2% - PDG in today's world.

[blackcap]

I wonder if Percy is back in? Percy, always appreciate your thoughts so if you are lurking what do you think?

[winner69]

Baker et al were always adamant the tra share price should be well over 3 bucks,

[blackcap]

Baker et al were always adamant the tra share price should be well over 3 bucks,

That's what Baker was telling me 4 years ago.

[percy]

I wonder if Percy is back in? Percy, always appreciate your thoughts so if you are lurking what do you think?

I have been out all morning so have just read the agm presentation.
Brilliant.Sorry I sold out.!
Just goes to show how important it is to a business having the directors as big shareholders."The owners eye'.
All the reasons I sold out for have proven to be groundless.I wrote off $5mil for stock write down,$5mil for being in lockdown and $5 mil for loan impairements.
OK 24% of vehicles were sold for a loss,lockdown has cost them,and I expect impairements will increase,however it all looks to be between $5mil and $7mil,ie less than half what I expected.
Strong out look should be pleasing to shareholders,as will be the excellent ongoing divies..
I will have to wait until such time as I get the daughter's property purchase /sale done before I can start to think of reinvesting in TRA.Maybe a good few months away unfortunately.

[Baa_Baa]

Turners car subscription service is now online https://www.turnerssubscription.co.nz

[clearasmud]

I have been out all morning so have just read the agm presentation.
Brilliant.Sorry I sold out.!
Just goes to show how important it is to a business having the directors as big shareholders."The owners eye'.
All the reasons I sold out for have proven to be groundless.I wrote of $5mil for stock write down,$5mil for being in lockdown and $5 mil for loan impairements.
OK 24% of vehicles were sold for a loss,lockdown has cost them,and I expect impairements will increase,however it all looks to be between $5mil and $7mil,ie less than half what I expected.
Strong out look should be pleasing to shareholders,as will be the excellent ongoing divies..
I will have to wait until such time as I get the daughter's property purchase /sale done before I can start to think of reinvesting in TRA.Maybe a good few months away unfortunately.

IGlad you are helping your children Percy.
You are an inspiration to me.
I tripled my holding at under 2 dollars.
Doing better than CDI and HGH my other similar sized holdings.

[Beagle]

Plenty of reasons for shareholders to be happy with today's update.
We have heard anecdotal talk of used car pricing being much stronger, (talk over the Tasman of prices up circa 20-30%).
We have also heard some discussion about how demand is much stronger due to people's reluctance to use public transport during Covid, which is perfectly understandable.
Further, some here have suggested with little to do and all that monetary stimulus people have been better positioned to pay their car loans and Turners certainly alluded to that in their presentation.
Good that they are forecasting a very slight increase on last year's profit and have the confidence to do this so early in the FY21 year.

I'm just a little underwhelmed in the circumstances with the above tailwinds that the forecast increase in profitability is so modest. I suppose in a Covid world and with their modest PE that's a pass mark and its probably a good hold for yield in the mid $2's.