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20-10-2022, 11:43 AM
#7581
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20-10-2022, 11:48 AM
#7582
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20-10-2022, 11:48 AM
#7583
Originally Posted by iceman
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.
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25-10-2022, 10:03 AM
#7584
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
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25-10-2022, 10:09 AM
#7585
Originally Posted by 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
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.
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25-10-2022, 12:00 PM
#7586
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?
Last edited by winner69; 25-10-2022 at 12:07 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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25-10-2022, 12:48 PM
#7587
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
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25-10-2022, 01:34 PM
#7588
Originally Posted by 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
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
Last edited by winner69; 25-10-2022 at 01:38 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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25-10-2022, 02:01 PM
#7589
Originally Posted by winner69
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
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25-10-2022, 03:42 PM
#7590
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
Last edited by winner69; 25-10-2022 at 03:44 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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