Turners car business holds up against doubling of interest expenses

Tue, 22 Nov 2022

Turners Automotive Group’s September 2022 half-year interest expenses have more than doubled from the same period last year.The company, which included the car auction business and financial services, posted a half-year $23.4 million net profit before tax for September 2022, compared with $23.2m for the September 2021 half-year.Total revenue for the period was $185.3m, up 11% from the same period last year.The company said its loan book was stable. However, rising interest rates would continue to put pressure on the cost of funds. Its int...

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