Turners shares tumble 7.4% on possible profit downgrade

Tue, 27 Nov 2018

By Jenny Ruth Nov. 27 (BusinessDesk) - Shares in Turners Automotive Group fell as much as 7.4 percent after it warned market conditions have deteriorated markedly. Turners’ shares sank as much as 20 cents to $2.53, taking their year-to-date decline to 23 percent. Investors were reacting to the company’s comments that it had a bad October and that if such conditions persist, pre-tax annual profit could be 5-to-10 percent below previous guidance of $34-to-36 million. The company has just reported a 28 percent jump to $12.8 million in...

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