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

[percy]

That Jackie Stewart film was really cool eh Percy

Must seek out the Ferrari one

Yes the Ferrari movie is a must see.
Google Alfonso de Portago.
You may also enjoy this behind the scenes.
https://www.youtube.com/watch?v=MuH7...Btb3ZpZQ%3D%3D
I have ordered the book "Ferrari the man and the machine" by Brock Yates from Amazon.Just over $30.

[Sideshow Bob]

DRP strike price at $4.44.

https://www.nzx.com/announcements/424774

[Sideshow Bob]

https://www.nzx.com/announcements/425976

Turners upgrades FY24 profit guidance for its fourth consecutive record result

Turners Automotive Group Limited (NZX/ASX: TRA) announces today an upgrade to its FY24 guidance to a net profit before tax of at least NZ$48m, ahead of the NZ$45.5m achieved in FY23. Now an NZX top 50 company, this will be Turners’ fourth consecutive record profit result.

With more certainty around the full year result the forecast dividend has been increased to NZ25 cents per share (+9% YoY), up from prior guidance of NZ24cps. Turners is approaching a decade of sustainable dividend growth, with an 11% compound annual dividend growth rate since FY15.

The 3Q24 dividend will be paid in late March 2024 with the final dividend for FY24 to be paid in late July 2024. Dividends will be fully imputed and the Directors expect that the Turners’ Dividend Reinvestment Plan (DRP) will continue to apply to both these dividends.

The NZ used car market and the Turners' business continue to demonstrate strong resilience despite a broader economy under pressure. Meanwhile, stabilisation in the official cash rate (OCR) is turning from a headwind into a tailwind for the Finance business.

More detail on Turners’ individual business segments can be found on the following page.

The company will report its full year results in late May. More detail on individual segments can be found on the following page.

[Rawz]

What a great company

[percy]

An excellent profit upgrade.

http://nzx-prod-s7fsd7f98s.s3-websit...976/412324.pdf

[Gerard]

Wonder if this is a change of dividend date (announcement says late March), verses last year when the 3rd qtr dividend was paid late April.

[Muse]

that's great and am relieved to see them navigating the clean car regulatory turbulence at the end of last year so well.

[winner69]

First half NPBT up 10% but in spite of ‘head winds turning into tail winds’ and NIM getting better second half NPBT is only going to be about the same as last year. If they had done another 10% on H223 this year then NPBT would have been $50m

Oh well, Todd can still dine out on his $50m target a bit longer and let his raves keep punters excited

I'm a bit underwhelmed .suppose another cent on the dividend will keep me happy

[Sideshow Bob]

Market likes it though Winner.

Up 3.1% already.

Although 2CC up 4.9%.......

[ronaldson]

Wonder if this is a change of dividend date (announcement says late March), verses last year when the 3rd qtr dividend was paid late April.

This will be to ensure the third quarter dividend is paid in the current tax year where the rate for Trusts is 33c in the $ compared to the 39c in the $ intended to be applied from 1 April 2024, given major shareholders ( who also have Board representation ) are holders via such structures.