Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.Launch Radio player
Turners Auctions has published a profit upgrade ahead of its annual result release on February 13.
Solid trading in the last three months will boost net profit after tax to about $4.2 million in the year ended December 31, the company says.
When the car auction operator posted a 19 percent rise in interim profit in August it said the annual result would be between $3.8 million and $4.1 million.
At the halfway mark, Turners Auction noted a return to normal trading in Christchurch but said the New Zealand used car market overall was flat and the market for Japanese imports was down 7 percent.
The company reported a net profit after tax of $3.7 million in the year to December 31, 2011, up 22 percent on the 2010 result.
The company cautioned that the accounts had not been audited externally yet so the profit indicated was a preliminary one.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- OPINION: Sir Bob Jones – Putting the Record Straight
- CPA Australia takes defamation case against rival accounting body NZICA
- Has $30m Saudi lawsuit allegation just sunk McCully’s career?
- MARKET CLOSE: Shares rise led by F&P, Nuplex
- Auckland-based music website trader guilty of fraud, ordered to pay $91K