Turners posts 33% gain in FY profit, says 2019 pretax earnings may rise as much as 16%

Mon, 28 May 2018

By Jonathan Underhill May 29 (BusinessDesk) - Turners Automotive Group posted a 33 percent gain in full-year profit as New Zealand's largest second-hand vehicle retailer leveraged its position to provide more finance and an expanded insurance offering. Profit rose to $23.4 million in the 12 months ended March 31 from $17.6 million a year earlier, the Auckland-based company said in a statement. Sales rose to $325 million from $249 million. Turners' insurance business was the stand-out, delivering a 283 percent gain in sales to about $47...

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