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How Turners revved up for a record profit

Brent Melville
Thu, 27 May 2021

Brent Melville
Thu, 27 May 2021
Turners Automotive made more money from car loans than its stock-in-trade auto retail business for the year to March, as its Oxford Finance arm generated $15.8 million in pre-tax profit.That was a 30% improvement on the prior year, surpassing profit of $15.4m for the auto retail division, $9.4m from insurance and $5.1m from a stalled credit management division. That contributed to overall net profit after tax of $26.9m, up 28% on the prior year and a record result for the group, despite a decline of 11% in revenues to $296.5m, from $333m f...

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