How Turners revved up for a record profit

How Turners revved up for a record profit
Brent Melville
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...

More Retail

The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024
Serato and AlphaTheta have abandoned deal
Retail

Serato and AlphaTheta have abandoned deal

The CMA said it has received written assurances from the parties. 

Rebecca Howard 24 Jul 2024
Warehouse share trading complaint filed
Retail

Warehouse share trading complaint filed

The Warehouse had confirmed a buyout proposal had been lodged.

Gregor Thompson 24 Jul 2024
Stephen Tindall supports Warehouse takeover offer
Retail

Stephen Tindall supports Warehouse takeover offer

Bid from Australian private equity firm values shares at between $1.50 and $1.70.