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

[iceman]

Lol? I tried to replicate it because i thought it would be funny if they actually did that. Like the new saying- 'go woke, go broke' would apply.

sadly i couldnt replicate. All in boring old English for me

Must say the website is very clean and modern. Very nice

Couple of good photos of Tina in amongst it all. Winner will be happy

Looks like I was a bit quick and short tempered earlier. Turns out it's a new PC in the office and searches through Bing have Te Reo as default or something
We can't figure out how to change it as we don't understand it but luckily trusted old Google is in English. Won't be selling my TRA shares now

[Rawz]

Looks like I was a bit quick and short tempered earlier. Turns out it's a new PC in the office and searches through Bing have Te Reo as default or something
We can't figure out how to change it as we don't understand it but luckily trusted old Google is in English. Won't be selling my TRA shares now

see bing go woke go broke. now youre back to google.

[percy]

Looks like I was a bit quick and short tempered earlier. Turns out it's a new PC in the office and searches through Bing have Te Reo as default or something
We can't figure out how to change it as we don't understand it but luckily trusted old Google is in English. Won't be selling my TRA shares now

Thank goodness for Google..lol.

[Jonette]

Turners announcement that “H1-23 net profit before tax to be modestly ahead of H1-22 net profit before tax of $23.2m for the six-month period ended 30 September. ” is as expected. Their sales have clearly been ahead of the market as they struggle to maintain stock levels

[Rawz]

Turners announcement that “H1-23 net profit before tax to be modestly ahead of H1-22 net profit before tax of $23.2m for the six-month period ended 30 September. ” is as expected. Their sales have clearly been ahead of the market as they struggle to maintain stock levels

Pretty good. Solid actually. Market is down yet TRA ahead

Here is the link full blurb to make it easier for some folk on their phones or what not

https://www.nzx.com/announcements/401078

Turners Automotive Group (NZX/ASX: TRA) expects H1-23 net profit before tax to be modestly ahead of H1-22 net profit before tax of $23.2m for the six-month period ended 30 September. The group is waiting on final confirmation of insurance reserve movements and will announce their half results on 22nd November.
Despite a challenging macro environment during the period, with four months of Omicron impact, rising interest rates, increased government regulation, and decreased industry demand, Turners has seen an increase in car units sold year on year and as a result, strong growth in market share. The wider NZ used car market is down 7.5% year to date (April to September) compared to the same period last year.
Turners’ auto retail network expansion, highly effective (award winning) advertising and retail optimisation strategy continues to drive growth for the business and offset the impact of the interest rate headwinds being experienced by Oxford Finance.
Group CEO Todd Hunter said: “We are seeing clear evidence that NZ consumers are increasingly looking to buy and sell with trusted people and a business that will be around for years to come. We also expect to see further transition from new to used vehicles in tougher economic times.”
Despite the macro context, the resilience and diversification of the group continue to deliver robust earnings and consistent dividends for Turners’ shareholders.

[winner69]

One of those 'positive' announcements to give you warm fuzzies now but to temper any expectations of profit increases like last year .... so when npbt comes in essentially no growth (modest that is) it won't be a surprise .... pretty clever eh

Could say a 'veiled' profit downgrade? But then again some guru analysts weren't expecting any profit growth in F23 anyway.

Hey Rawz --- selling heaps more cars but making stuff all (sorry modest) extra profit ... is that how its meant to work?

[Rawz]

Its okay W69. TRA trading on modest P/E of 8 and we are sitting here collecting gross divvy of 9%+ divs paid quarterly. its nice and tidy, easy business to understand. clear national expansion plans. Its okay to sit and hold, use the divs to accumulate more shares of the business if you like.

Oxford might have had a tough H1 with lower NIM. Asset finance went strange last 6 months, swaps going up but customer rates not so much. Good for the customers though!

There is no downgrade here. Last target was FY25 NPBT of $50m. Maybe see FY23 $45m. All on track

[winner69]

Its okay W69. TRA trading on modest P/E of 8 and we are sitting here collecting gross divvy of 9%+ divs paid quarterly. its nice and tidy, easy business to understand. clear national expansion plans. Its okay to sit and hold, use the divs to accumulate more shares of the business if you like.

Oxford might have had a tough H1 with lower NIM. Asset finance went strange last 6 months, swaps going up but customer rates not so much. Good for the customers though!

There is no downgrade here. Last target was FY25 NPBT of $50m. Maybe see FY23 $45m. All on track

Turners (and me) say F22 EPS was 36.4 cents (no idea where NZX gets the 42.3 cents from) ..... gives a PE just under 10 ,,,,, about right I'd say

No worries though .... Todd has averted a potential disaster if he'd announced a flat H1 without pre-empting it

[Rawz]

Turners (and me) say F22 EPS was 36.4 cents (no idea where NZX gets the 42.3 cents from) ..... gives a PE just under 10 ,,,,, about right I'd say

No worries though .... Todd has averted a potential disaster if he'd announced a flat H1 without pre-empting it

True.. NZX is off! P/E is high 9s

About right as you say

[winner69]

My spreadsheet shows EPS growth last 5 years 9.0% pa - and average PE over that time 11

Forecast EPS growth next 3 years 4.1% pa

Share price currently about right .... maybe

Seems it's only the dividend that's supporting the share price (and it seems that won't be keeping up with inflation)

Maybe we could invent something called the 'the option value of the Turners dividend' to justify holding