Turners Automotive Group expects to achieve another record profit for FY24 based on positive trading results.
The company anticipates the FY24 profit to surpass the previous record of $45.5 million net profit before tax in FY23.
The forecasted dividend is expected to be at least 24 cents per share, with a Q1 dividend of 6.0 cents per share fully imputed.
The company highlights the upside in the auto retail segment due to new branches in Timaru and Napier, as well as the advantage of having a supply of vehicles in a supply-constrained market.
The finance division aims to prioritize quality and margin management, while the insurance division benefits from new policy sales and stable claims ratios.
The credit management division expects an increase in debt load levels as economic conditions worsen.
Despite economic uncertainty in New Zealand, Turners' business has performed well.
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