TURNERS AUTOMOTIVE G

TRA
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Turners Automotive : Rises 16% on Higher Fiscal H1 Net Profit, Upbeat FY21 Profit Guidance

11/24/2020 | 08:22pm
(MT Newswires) -- Turners Automotive Group (ASX:TRA, NZE:TRA) on Wednesday reported fiscal H1 underlying net profit before tax of NZ$13.1 million ($9.1 million), down 11% from a year ago.

Reported net profit before tax for the half year ended Sept. 30 of NZ$18.7 million was up 26% from NZ$14.8 million.

Reported net profit after tax rose year over year to NZ$13.4 million, or NZ$0.16 per share from NZ$10.3 million, or NZ$0.12 per share.

Group revenue sank 14% to NZ$148 million from NZ$170.6 million.

The company said it expects to achieve the upper end of its FY21 net profit before tax guidance of NZ$28 million to NZ$31 million, assuming there are no significant lockdowns in New Zealand in FY21. At the mid-point of the guidance range, the company expects a full-year dividend of NZ$0.17.

Shares of the company were up nearly 16% in recent trading.

Price (AUD): $2.55, Change: $0.35, Percent Change: +15.91%

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