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Turners fights off ‘deep’ economic downturn with profit gain

Listed car dealer says New Zealand has experienced a hard economic landing and OCR cuts should have come earlier.

Turners is more optimistic about the second-half economic recovery.

Key points
  • Revenue: $209m, down 2% 
  • Profit: $19.3m, up 4%
  • Main takeaway: Turners navigates ‘deepest downturn’ with profit gain in the six months ended September, while margin and pricing pressure starting to ease. 

 

Listed car dealer Turners is another key automotive player pointing to the subdued economy putting pressure on margins and prices, while it managed to produce a higher profit.  

The NZX-listed company’s net profit in the six months ended September 30 rose 4% to $19.3 million, while revenue

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Jonathan Mitchell Mon, 25 Nov 2024
Contact the Writer: jmitchell@nbr.co.nz
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Key points
  • Revenue: $209m, down 2% 
  • Profit: $19.3m, up 4%
  • Main takeaway: Turners navigates ‘deepest downturn’ with profit gain in the six months ended September, while margin and pricing pressure starting to ease. 

 

Company profile
Powered by:
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
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Daily Low
52 Week High
52 Week Low
Turners fights off ‘deep’ economic downturn with profit gain
Investment,
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