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Turners Automotive Group Ltd ( (AU:TRA) ) has issued an announcement.
Turners Automotive Group has upgraded its earnings guidance for the year to 31 March 2026, now expecting net profit before tax of about $63 million, up from “around $60 million” and edging closer to its longer-term $65 million target. The uplift is underpinned by strong summer trading, with higher vehicle sales volumes, improved margins in its Auto Retail arm and continued market share gains.
The group’s finance division also delivered record lending in January and February while maintaining credit quality, further strengthening its position in vehicle finance. Turners will book a non-cash goodwill write-down of $7 million to $9 million on its small, non-core EC Credit division, but excluding this, the upgraded guidance points to another record trading result ahead of a strategy update and investor day later this month.
More about Turners Automotive Group Ltd
Turners Automotive Group Limited is an integrated financial services group primarily focused on the automotive sector, combining auto retail, vehicle finance and related services. The company operates a multi-division platform that includes core automotive operations and smaller non-core units, positioning it to capture market share across vehicle sales and finance in New Zealand.
For detailed information about TRA stock, go to TipRanks’ Stock Analysis page.