Turners Automotive joins S&P NZX 50 indices

Turners Automotive Group has announced that it will be added to the S&P NZX 50 Portfolio Index and MidCap Index.

The inclusion in these indices will take effect on 18 December.

Chairman Grant Baker described it as a major milestone for the company and a reflection of its quality and growth.

Turners recently reported a record net profit before tax of $25.7 million for the first half of the year, which was 10% higher than the same period last year.

The company has also reaffirmed its guidance that the full-year result is expected to be ahead of the previous year.

Turners Automotive Group is an integrated financial services group operating in the automotive sector.