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Turners bullish about full-year, despite flat interim profit

Recession, demand, and loan defaults are 'medium' risks for car dealer.

Turners opened a new branch in Timaru on November 15.

Key points
  • Revenue: Rose 16% to $214m.
  • Profit: Down 4% to $18m. 
  • Main takeaway:  Management no longer sees supply chain blocks or recruitment and retention of people as a problem, and regulatory risk had shifted to low with change of government. 

Listed car dealer Turners has reported higher interim revenue as it trumps a sluggish economy with improved market share and volumes.

The company’s net profit after tax was down 4% to $18 million in the six months ended September 30, compared with the same period last year. However, profit from

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Jonathan Mitchell Wed, 22 Nov 2023
Contact the Writer: jmitchell@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Key points
  • Revenue: Rose 16% to $214m.
  • Profit: Down 4% to $18m. 
  • Main takeaway:  Management no longer sees supply chain blocks or recruitment and retention of people as a problem, and regulatory risk had shifted to low with change of government. 
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Turners bullish about full-year, despite flat interim profit
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