Turners Automotive Group records profit rise despite deep downturn in retail
Turners chief executive officer Todd Hunter says the auto retailer had to reduce its prices to meet the market. (Image: Turners Automotive Group)
Automotive retailer Turners’ profit increased to $19.3 million for the six months ended Sept 30 despite an 18% profit fall in its retail arm. Turners Automotive Group reported a decline in revenue of 2% to $209.9m for the period and earnings before interest and taxation of $31.0m, a 3% increase. It will pay a 7 cents per share (cps) dividend for the second quarter and said it expected to pay a full-year dividend of at least 27 cps.Turners already paid a first-quarter dividend of 6.0 cps.Turners Automotive Group chief executive T...
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