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  1. #4961
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    Quote Originally Posted by percy View Post
    I will leave the selling to you.
    None of mine are for sale under $4.00.
    Had a good conversation with one of Turners branches recently. Very impressed with their upbeat positive sharing. And if what they said is indeed correct, that they will need to move to bigger premises soon ,well it reminds me of that great Doors song " Ive been down so long it looks like up to me". Heres hoping.

  2. #4962
    Speedy Az winner69's Avatar
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    Last day before a long weekend (or for many a whole week off) and several profit downgrades on the NZX already

    Just as well Turners keep on clipping the ticket so no profit downgrade for them on this fateful day for some

    Maybe a profit upgrade ...that would be good
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #4963
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    Quote Originally Posted by winner69 View Post
    Last day before a long weekend (or for many a whole week off) and several profit downgrades on the NZX already

    Just as well Turners keep on clipping the ticket so no profit downgrade for them on this fateful day for some

    Maybe a profit upgrade ...that would be good
    https://www.nzx.com/announcements/333543

    Kind of soft upgrade.

    • Guidance: FY19 NPBT guidance updated to be above $32m (excluding one off non-cash adjustment relating to Buy Right Cars rebranding), consistent with current guidance.
    • 4th Quarter Trading Update: Improvements in trading performance, with positive benefits from ongoing optimisation of retail network; relocation of the Whangarei site; and two new sites performing above expectations. North Shore branch relocation remains on schedule.
    • Group Strategy Review: Board and senior management have been undertaking a full and comprehensive review of the group strategy with a focus on simplicity, de-risking the business and focusing on our core capability and brand strength in Automotive Retail. The outcome of the review will be communicated to the market by the end of June.
    • Brand Rationalisation for Auto Retail: An early outcome of the strategy work is that Turners will focus on a single brand direction within the Auto Retail division. Buy Right Cars branches will rebrand to Turners to leverage the high levels of awareness and trust in the Turners brand. This will result in a $4.5m one-off, non-cash write-off for the Buy Right Cars brand and signage value.
    • Q3 Dividend: 4.0 cents per share, with minimum FY19 dividend of 17 cents per share expected.

  4. #4964
    Speedy Az winner69's Avatar
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    Npbt was always going to be $33m/$34m but maybe only $33m which is still profit growth

    F20 going to be a monster of a year

    Pity about the $5m rebranding costs but if nothing else that will keep snoops busy normalising profit

    A lot of buzz words in the announcement should give the market the warm fuzzies

    Share price could be 3 bucks soon .,well done Todd Turner, he’s a good guy
    Last edited by winner69; 18-04-2019 at 08:33 AM.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  5. #4965
    ShareTrader Legend Beagle's Avatar
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    Move to a single brand, "Turners" makes good common sense. Update removes some uncertainty which is good and it looks like Percy might get his wish about the buy-back continuing at some stage in the future. Harbour reckon value stocks are cheap and the directors think Turners shares are cheap, maybe they are ?
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  6. #4966
    percy
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    Pleasing to see that BuyRight Cars will be rebranded Turners.
    Turners brand is trusted strong well known brand.
    Cost of the rebranding is more than I would have expected.
    Hopefully the buy back will be extended.
    Also pleased with the confirmation of next year's [mimimum] 17 cents divie.

  7. #4967
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    Seems to me they have grossly over valued the Buy Right Brand. 4.5m is a hell of a lot for a brand that isnt trusted or the market is unaware of it.

  8. #4968
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    The Buy Right Cars purchase for me was good in some cases but the one that didnt sit well with me was the service that they delivered. I have been there a few times and they weren't very good in my opinion, hence I never went there again. I think now with the rebrand it might get those put of BRC visiting the sites again. BRC do have good sites though. I am pleased with the guidance and very happy with previous timing of purchase

  9. #4969
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    Well, one step at a time with quick recovery of 4c divvy.

  10. #4970
    percy
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    Quote Originally Posted by minimoke View Post
    Seems to me they have grossly over valued the Buy Right Brand. 4.5m is a hell of a lot for a brand that isnt trusted or the market is unaware of it.
    Agreed.
    However the BuyRight cars acquisition did give them the penetration of the Auckland market they lacked.
    Whether in hindsight they would have achieved the same penetration with organic growth, is hard to know.Would have taken years.
    However they have penetration in the Auckland market and are now growing it organically.Northshore new site at Archers Road shoud be something, and then another new branch at Westgate openning in the not too distant future.
    Still awaiting news about possible relocation of ChCh branch..
    Last edited by percy; 18-04-2019 at 09:42 AM.

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