Turners Automotive Says On Track to Hit Midterm Pre-Tax Net Profit Target by Fiscal 2028

MT Newswires Live08-25

Turners Automotive Group (ASX:TRA, NZE:TRA) said it is on track to achieve its midterm target of NZ$65 million net profit before tax in fiscal 2028, ahead of schedule, according to a Monday filing with the Australian and New Zealand bourses.

In the same filing, the company said it expects to report an over 10% year-over-year growth in pre-tax profit for fiscal 2026.

The company said it has seen strong book growth in the first four months of fiscal 2026, with the loan book up 5% over March 2025 levels, and expects "solid" book growth for the remainder of the fiscal year, as the tailwind of lower interest rates is expected to underpin interest margins.

The company's auto retail division is trading ahead of fiscal 2025, with higher owned vehicle sales offsetting reduced consignment volumes, and the company expects stronger margins and volumes in the fiscal second half of 2026, supported by the brand campaign, Christchurch expansion, and an improving economy.

The company's Kiwi shares rose 1% in recent Monday trade.

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