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

[minimoke]

Sadly TRA chairman not turning up at a number of meetings must be the ultimate of lacking energy for the roll he is paid for.

To be fair. He did turn up. It was just that he was lurking behind a computer (presumably on a beach) somewhere, and the acting chair forgot to mention this at the start.

[forest]

To be fair. He did turn up. It was just that he was lurking behind a computer (presumably on a beach) somewhere, and the acting chair forgot to mention this at the start.

Depends I guess what your definition is of turning up. Share holders could not engage in a conversation with the Chair Grant Baker so as far as I see he was not there.

[minimoke]

Depends I guess what your definition is of turning up. Share holders could not engage in a conversation with the Chair Grant Baker so as far as I see he was not there.

Weeeeelllllll. They could, sort of. Had the chair raised it, and with their IT skills I am sure they could have got a mike over to the SH'er and projected the laptop screen up to include him in the conversation. We know he was listening (so he could hear) and we heard him speak, so we know the two way coms was working.

[Beagle]

Depends I guess what your definition is of turning up. Share holders could not engage in a conversation with the Chair Grant Baker so as far as I see he was not there.

I suspect he couldn't face the wrath of the barking Beagle lol
Might as well spend that "well earned" directors fee increase on a decent ski resort eh https://www.zermatt.ch/en/Media/News...in-Switzerland
All good though because now the SP has been beaten savagely with the ugly stick those buyers in now at around $2.50 will be able to enjoy a Swiss holiday themselves in due course...

[winner69]

I think Turner management have been selling us down the river all year .....accentuating all the positives and glossing over any negatives.

Even now they not coming out with a profit downgrade ...just might be a possibility of one ...cool

Any used car salesman jokes anyone?

[winner69]

From the presentation - Reduction in cash balances due to investment of insurance reserves into longer dated term deposits

Prudent move but the insurance guy won’t be able to proudly state at next years agm that his investment return is probably the envy of other insurance companies (all over the world)

[Beagle]

Don't know about brave.
Looking rather foolish at present.
Neither buying or selling.

What has our friend KW told you about buying stocks in a downtrend but all the time you've been talking up the official company line about growth opportunities !
You are right to feel rather foolish AND show some contrition on this forum about this matter.

All good now though at ~ $2.50...must be a bargain and with a multi million dollar share buy-back coming what could possibly go wrong lol

[percy]

I seem to be the only one who accepts the Deputy Chairman,Paul Byrnes explanation, the board changed the date of the meeting,not Grant Baker.
I have a great deal of time for Paul Byrnes,and the rest of the board,so it meant very little to me that Baker was not there " in the flesh".
So we have a poor half year,and a slow market for used cars.
Going forward it would appear we are on track.
Issues.
Finance.MTF non-recourse loans.According to MTF result issued yesterday, Turners' Oxford Finance altered their lending citeria in April.So looks as though Turners are working their way through them.Non payers identified,slow payers identified.
Turners now putting $4mil a month of Turners originated loans through Turners Oxford Finance rather than MTF.Better margin.
Buy Right Cars.Old stock discounted and moved.Adjusting to slower market.
Turners/Buy right Cars Stock levels.Stock levels adjusting to match sales.Positive.
Autosure Insurance.Appears to be better matching premiums to cost of repairs.
Staff.Appears up skilling staff is on track.
EC Credit.Acknowledged growth will come from Australia and must be sourced.Work in progress.
End of live vehicles.Trading well.
Liquidity.Plenty of undrawn lines of credit.
Property development.On course.
Share buy back I take as positive.

[percy]

What has our friend KW told you about buying stocks in a downtrend but all the time you've been talking up the official company line about growth opportunities !
You are right to feel rather foolish AND show some contrition on this forum about this matter.

KW has a great record.
So have I.
I am not buying or selling any TRA shares.I have what I want.

[couta1]

KW has a great record.
So have I.
I am not buying or selling any TRA shares.I have what I want.

I'm not buying nor selling TRA either but I don't agree with KW about not buying in a downtrend if that downtrend is not driven by a serious deterioration in company fundamentals but rather a Schizophrenic market.