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

[percy]

The ASX listing is purely cosmetic. Many ASX funds and insto's require in their mandate that if they wish to purchase stock it must be listed on the ASX. Having the listing means that TRA are open for Australian fund managers to purchase TRA stock. They do so on the NZX because that is where the liquidity is. This has been discussed on this forum before.

Facts.Thank you.
Makes a nice change from the "Fake News" ,from posters who should know better.
Perhaps if they owned shares in the company,or had bothered to read the thread, they may have been able to make a sensible contribution.

[minimoke]

They do so on the NZX because that is where the liquidity is. This has been discussed on this forum before.

Liquidity must surely be a function of demand. ATM / A2M seem to have no problem with liquidity on the ASX. It is quite clear Australians dont see TRA as a sound investment opportunity.

(wonder if we will get a post market close announcement on reduced divvy today?)

[blackcap]

Liquidity must surely be a function of demand.

Potentially. I do not think there are many available shares on the ASX or they are tightly held. No point in having a bid in that never gets hit and no offers to take. So the default is to trade on the NZX.

[minimoke]

Divi announcement4.0 cents per share. The record date will be 23 April 2019 with a payment date of 30 April 2019.This brings the total dividends paid or declared for the 31 March 2019 financial year to 12.0 cents per share. The Board advises that it also expects to declare a fully imputed final dividend of 5.0 cents per share payable in July 2019.

[winner69]

Quite a few shares held by Aussie investors Byrnes said at the AGM .....heaps actually

[winner69]

Awesome news about the divie.

Hope it’s not fake news eh Percy

No news about profit is awesomely good news as well .....$34m npbt on way

[percy]

Liquidity must surely be a function of demand. ATM / A2M seem to have no problem with liquidity on the ASX. It is quite clear Australians dont see TRA as a sound investment opportunity.

(wonder if we will get a post market close announcement on reduced divvy today?)

EBO is also listed on ASX.The majority of their over $7 billion turnover is in Australia.Their CEO and CFO are in Australia.Look at the depth of orders.
Liquidity is in NZ.
As Blackcap pointed out ,Aussie intos buy in NZ,however they can only buy if they are listed on ASX.So it does not make any difference if none are ever traded in Aussie.
Well the divie announcement is as expected,so again the "Fake News" has been just that !..
No surprises there.!

[percy]

Awesome news about the divie.

Hope it’s not fake news eh Percy

No news about profit is awesomely good news as well .....$34m npbt on way

Not awesome,just confirming what they said last October.Also confirmed last October's statement they expected to pay a 5 cents dividend in July.
.
Not sure what I expect the NPBT will be.
Oxford Finance revenue will be up,helped by extra deals from Turners [good margin] and increased number of originators.
MTF non -recourse impairement loans most probably still a drag.
Buy Right Cars.Hopefully most of the old stock has been cleared.
Turners vehicle sales may be steady helped by relocated and new sites.
Autosure Insurance will be very profitable.
End of Life vehicle logistics will also be very profitable.
EC Credit.I am not sure about.
Property sales/development.Could be another very large profit ticket.
I also expect they will announce an extension to the share buy back.
What will be really interesting to me will be their outlook statement,as I feel everything is coming together nicely.

[Brain]

Would a rerating of Turners be too much to expect? I will not hold my breath

[Balance]

Divi announcement[FONT="]4.0 cents per share. The record date will be 23 April 2019 with a payment date of 30 April 2019.[/FONT]This brings the total dividends paid or declared for the 31 March 2019 financial year to 12.0 cents per share. The Board advises that it also expects to declare a fully imputed final dividend of 5.0 cents per share payable in July 2019.

Todd definitely keeps a close eye on this forum!