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  1. #3591
    percy
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    Quote Originally Posted by winner69 View Post
    It has been a long week ...esp in Turnerland
    We live in interesting times.?.!

  2. #3592
    Speedy Az winner69's Avatar
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    Chairman Baker reported as saying a share buyback is a good way to return capital to shareholders.

    Makes him sound very benevolent doesn’t it, like being generous and doing shareholders a favour by buying their shares and putting them out of their misery.

    But it wasn’t that long ago he held his hand out to shareholders asking for more cash to play with.

    Weird and funny world we live in


    Be a bit embarrassing if they ask for more cash in the next year or two .... Bull says debt levels are bad
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #3593
    percy
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    Announcement showed a lot of undrawn lines of credit avaliable to Turners.
    I aso note they are adjusting their stock holding of vehicles,which will also free up capital.
    The company generates profits.
    Their Insurance company reserves provides capital for property developments.
    The $4mil of loans a month Turners are now putting through Oxford finance, could again be put through MTF.
    Last edited by percy; 29-11-2018 at 02:04 PM.

  4. #3594
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    Quote Originally Posted by percy View Post
    Announcement showed a lot of undrawn lines of credit avaliable to Turners.
    I aso note they are adjusting their stock holding of vehicles,which will also free up capital.
    I've been looking to replace my car and found their prices well above other dealers for sam car and kms. Perhaps they'll come down a bit now to raise cash for the buyback?
    As for the buyback. Are they effectively also using money raised in the bond issue to support the shareprice and do the directors with substantial holdings a big favour?

  5. #3595
    percy
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    Yes the buyback will give me a larger slice of the cake too.

    ps.Should you find the car you want at Turners,negotiate.Quote the vehicles you are comparing theirs with.
    I found when buying a car it focusses the sellers mind if you show them a bundle of cash.[Works best with sole traders].
    Last edited by percy; 29-11-2018 at 09:30 AM.

  6. #3596
    Speedy Az winner69's Avatar
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    Phew ...TRA shareprice is going up

    It’s not going to be a downer of a day ....cool
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  7. #3597
    percy
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    Quote Originally Posted by winner69 View Post
    Phew ...TRA shareprice is going up

    It’s not going to be a downer of a day ....cool
    Think shareholders win either way.
    Share price goes up........................ the value of their holding goes up.
    Share price goes down.................... the share buy back costs less.
    A win win situation.!.........................lol.

  8. #3598
    percy
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    Quote Originally Posted by winner69 View Post
    ....but isn’t the cake a bit smaller
    Not with their expanding foot print in property,finance,and insurance.

  9. #3599
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by alex f View Post
    A lot of misery guts people out there.
    The 30th September half was a mainly winter period with a 3% profit increase (taking off the property deal)

    Why October (a month outside the reporting period) and a possible 5-10% downgrade had to be mentioned in this release is questionable, there are 5 more months to go in the next period.
    October saw petrol prices of nearly $2.55 so people had less money to spend (and were in shock) and many cars were probably undesirable buys as well.
    The weather in October was poor.

    Petrol is now $2.08 in Wgtn, $1.95 in Levin
    Summer is coming
    The Govt enquiry in to petrol prices may also lower prices as well as the glut
    Well said.

    Quote Originally Posted by SCOTTY View Post
    The Govt enquiry in to petrol prices may also lower prices as well as the glut
    Probably no need for the enquiry now. Just the threat was enough to scare the Arabs into dropping the price of crude and cause the $US to fall dropping the pump price here.
    The Saudi's Russians and U.S. administration must be just as terrified of Cindy as we are lol. Someone told me she has been trying to claim credit for the prices coming down...disappointed I missed that particular bit of comedy.
    Last edited by Beagle; 29-11-2018 at 09:54 AM.
    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

  10. #3600
    Speedy Az winner69's Avatar
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    Book value $2.43 at September

    Trading above that now is a sign that the market expects much better financial performance in future ....ie actually earning more than it’s total cost of capital instead of currently struggling to do so.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

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