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

[toddhunter]

I missed the asm. is there a recording anywhere?

Looking at the presentation- those profit and dividend charts. could look at them all day long. When does TRA get a re-rate?

https://www.youtube.com/watch?v=QBOLWY5bt6k

Here is the link...

[Jaa]

In the short term (up to the next 24 months) I'd say people will be wary of a recession and what happens to margins per car when/if used car prices recede. But agree for such a well run business with so many pistons would be nice to see a re rating. we are pretty well rewarded in the meantime.

It is not just used car prices. Loan books perform and look great until tested by a recession where a lot of people lose their jobs. Turners have experience of this from Dorchester days but wariness is healthy.

[Waltzing]

RBNZ Gov saying on CNBC today that he is not expecting a recession in NZ....

chart look good buying here if thats the case but really 2020 was the BUY...

used car prices still up there...

[Jaa]

RBNZ Gov saying on CNBC today that he is not expecting a recession in NZ....

chart look good buying here if thats the case but really 2020 was the BUY...

used car prices still up there...

Yes, couldn't believe my luck getting some at $1.23 !!

[Muse]

It is not just used car prices. Loan books perform and look great until tested by a recession where a lot of people lose their jobs. Turners have experience of this from Dorchester days but wariness is healthy.

Yes agree but just saying perception is often more important than reality in the near term. And its never a bad thing to question the financial impact and sustainability of unusual events like the spike in car prices. Its also interesting thinking about the volume of used car sales nationally and by TRA in the last 2 years vs through various cycles

[winner69]

That ‘that’s a great question’ must be a CEO/Chairman thing at AGM’s (and analyst calls etc)

The My Food Bag guys answered most questions with a ‘that’s a good question’ ..not a great question.

The phrase ‘that’s actually quite good’ isn’t really a compliment and neither is ‘that’s a good question’….but they are things that I can’t miss hearing …even if not really paying much attention.

Sorry, just adding a bit of colour to the topic …whoops I’ve used a favourite guru analyst phrase.

[percy]

I think it must be very hard for CEOs answering so many "daft" questions at AGMs,that they are rather pleased to have some sensible questions asked.
I always remember the daft lady at an HGH AGM, asking and talking about DNA.The Chairman was sensible enough to point out to her she was at the wrong AGM...lol

[RTM]

I think it must be very hard for CEOs answering so many "daft" questions at AGMs,that they are rather pleased to have some sensible questions asked.
I always remember the daft lady at an HGH AGM, asking and talking about DNA.The Chairman was sensible enough to point out to her she was at the wrong AGM...lol

I think they say it as it gives them a little time to think and collect their thoughts before they answer.

[peat]

Well, shareholders of TRA arent getting diluted as bad as HGH but they still are getting diluted.
There would appear to be a very generous discount to staff shareholders as well as an interest free loan. All good, I am all for staff participation , in fact I managed the Air NZ staff share scheme way way back. I dont think their discounted price was as big a % as TRA's though.

[Ggcc]

Well, shareholders of TRA arent getting diluted as bad as HGH but they still are getting diluted.
There would appear to be a very generous discount to staff shareholders as well as an interest free loan. All good, I am all for staff participation , in fact I managed the Air NZ staff share scheme way way back. I dont think their discounted price was as big a % as TRA's though.

I spoke with a Napier sales person about 2 years ago and found him wonderful to deal with. As a shareholder I want nothing more than staff who are onto it and know their stuff. I’m all on board with giving incentives for good staff to stay, as they all need to survive in life and produce the best results for the company. We bought a car on the day.