Turners may shed Oxford Finance, EC Credit in bid to simplify business

Tue, 28 May 2019

By Paul McBeth May 29 (BusinessDesk) - Turners Automotive Group may sell its Oxford Finance and EC Credit debt collection units as it attempts to streamline the business. It has already ditched the Buy Right Cars brand at a cost of $4.3 million. That brand write-off led to Turners reporting a net profit of $22.7 million in the year ended March 31, down from $23.4 million a year earlier. Excluding that charge, pre-tax earnings rose 8 percent to $33.6 million, beating the downgraded guidance provided in April. Revenue increased 2 percent t...

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