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

[Ggcc]

Haven’t seen any posts from Black Peter for a while. Hope he still owns his shares in this great company.

[alokdhir]

Rang that guy Peek up and said when you want some TRA give me a buzz and we’ll do a deal.

He said thry not interested in Turners ……bit risky maybe

Looks like U did a private placement deal with Meek ...pls enlighten us what price u were ready to part with Tina ??

[percy]

A very strong result from Motor Trade Finance.
Net interest income and fees have increased 32% to $45.8m
• Operating expense ratio has decreased 1%
• Profit after tax has increased 38% to $11.6m
• Underlying profit after tax has increased 71% to $11.3m

[Rawz]

A very strong result from Motor Trade Finance.
Net interest income and fees have increased 32% to $45.8m
• Operating expense ratio has decreased 1%
• Profit after tax has increased 38% to $11.6m
• Underlying profit after tax has increased 71% to $11.3m

wow impressive

[toddhunter]

Q&A with Aaron and I starting at 5pm for those interested.

You can ask questions on Friday either through the audio function, or the Q&A function or you can email me any questions to todd.hunter@turners.co.nz


You are invited to a Zoom webinar.
When: Nov 24, 2023 17:00 Auckland, Wellington
Topic: Turners Q&A for Sharetrader Community
Register in advance for this webinar:
https://turners.zoom.us/webinar/regi...R0SqI304ByfFRQ
After registering, you will receive a confirmation email containing information about joining the webinar.

[Jonette]

Todd asked that I publish my website - happy to provide it - I update this page pretty near every Monday by updating the datawrapper chart. The website is neglected, but the chart is constantly updated

https://www.jonette.co.nz/turners-au...ised-cars.html

Or https://www.datawrapper.de/_/GeaXh/?v=79

[Rawz]

How did the Q&A go? Any recording?
Friday after work beers got me

[percy]

I missed the first 10 minutes.
Turners are very happy sourcing most of the vehicles they sell in NZ.Means they get them saleable and sold very quickly.
Finance book cycle takes around 24 or 27 months.Next September all the low interest rate loans will end.Means the NIM margin is starting to improve,and then will be back to high.
Interest rates are affecting property owners and prices.They are buying a property in Tauranga for $8.5mil that the owner turned down $11.5 mil for a year ago.
They are happy with long settlement dates on property they buy,as it means they can get consents and their plans organised for how they want the site set up.
Working on a number of opportunities ,with more available in the current property market.
Interesting Todd mentioned a number of the board are involved in these deals.
Seems there really is a "team" effort right through the business,from The Chairman,the board,management and staff.
A lot of very capable people enjoying their work and achieving great results for themselves and shareholders.
Todd and Aaron were very generous giving us their time.
I thank them.

ps.Beagle asked good questions,which were answered fully

pps.I think people under estimate just how clever Turners are with their property deals.
Any property they buy and develop they get the development margin,and the property is valued higher as it is leased to a listed national client,ie Turners Cars.
Great use of part of their insurance float.

[Habits]

"Interest rates are affecting property owners and prices.They are buying a property in Tauranga for $8.5mil that the owner turned down $11.5 mil for a year ago.
They are happy with long settlement dates on property they buy,as it means they can get consents and their plans organised for how they want the site set up."

Is there any uplift in property values as a result. Does turners do sale and lease back

Edit: you have answered the first part re development margin etc

[percy]

"Interest rates are affecting property owners and prices.They are buying a property in Tauranga for $8.5mil that the owner turned down $11.5 mil for a year ago.
They are happy with long settlement dates on property they buy,as it means they can get consents and their plans organised for how they want the site set up."

Is there any uplift in property values as a result. Does turners do sale and lease back

Edit: you have answered the first part re development margin etc

Second part of your question..The properties are owned by Turners Property Holdings Ltd.
A lot of the funding comes from Turners Insurance co.So although not sold they are most probably leased by Turners retail.
Winner 69 on the other channel pointed out there will be a difference between book and market value of these properties.
I expect it will be huge.