Turners Auctions lifts annual profit 14 percent on sales growth, looks at growth

Mon, 11 Feb 2013

Feb. 12 (BusinessDesk) - Turners Auctions, the country's biggest auction house, boosted annual profit 14 percent as it lifted car sales. The company said it is holding off making a special return while it looks at "growth opportunities." Net profit rose to an expected $4.2 million, or 15.4 cents per share, in the 12 months ended Dec. 31, from $3.7 million, or 13.5 cents, a year earlier, the Auckland-based company said in a statement. Sales rose 3.7 percent to $78.2 million with a 2 percent gain in used car sales to 928,595. The company's bo...

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