Turners Automotive lifts annual profit 13%

Sun, 28 May 2017

By Tina Morrison May 29 (BusinessDesk) - Turners Automotive Group lifted annual profit 13 percent after it acquired Buy Right Cars, expanding its vehicle retail unit. Profit increased to $17.6 million in the year ended March 31, from $15.6 million the previous year, the Auckland-based company said in a statement. Pre-tax earnings increased to $24.6 million, ahead of its forecast range of $24 million to $24.5 million, and up from $21.6 million a year earlier. Revenue rose 48 percent to $252.4 million while expenses lifted 53 percent to $22...

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