Turners Auto defies downturn

(Image: Turners Automotive).

Tue, 21 May 2024

Turners Automotive says diversification helped the used car dealer and financier defy the economic slowdown and report record earnings for the March year.The company’s after-tax net profit rose by 1.5% to $33.0 million.Before tax, the profit rose by 8% to $49.1m, while earnings before interest and tax gained 12% to $58.6m.The company, which is also involved in credit management and insurance, declared a dividend of 7.5 cents per share (cps), taking the full-year dividend to 25.5cps, up 11%.Turners’ auto segment profit was up 27% &nb...

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