Turners Automotive Group Raises Fiscal 2026 Profit Outlook on Strong Summer Trading

MT Newswires Live

03/19

Turners Automotive Group (NZE:TRA, ASX:TRA) raised its fiscal 2026 net profit before tax forecast to about NZ$63 million from around NZ$60 million, driven by strong summer trading across its core businesses and bringing it closer to its NZ$65 million target for fiscal 2028, according to a Thursday filing with the Australian and New Zealand bourses.

The company's auto retail division saw higher sales and margins from disciplined purchasing and pricing, while its finance arm delivered record lending and gained market share without weakening credit quality, per the filing.

The company also reviewed its smaller, non-core EC Credit unit and anticipates recording a non-cash goodwill write-down ranging between NZ$7 million and NZ$9 million, the filing added.

The company's Kiwi shares rose past 2% in recent Thursday trade.

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