Turners Automotive Group (NZX: TRA) has reported record earnings for the financial year to March 31, 2022 (FY22), with revenue up 15% to $342.0m and net profit after tax (NPAT) of $31.3m, up 16% on the same period last year.
Operating profit across the three largest businesses (Auto Retail, Finance and Insurance) grew strongly, while Credit Management was down 40% due to historically low consumer arrears.
The Group declared a 7.0 cps final dividend for FY22, taking the total dividend for the year to 23.0 cps and yielding 8%+ per annum return based on the current share price.
Market share gains and a property investment strategy have added further gains to shareholders.
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