Turners Limited, which includes the truck and machinery and passenger vehicle auction houses as well as a number of finance and insurance brands, has raised profit expectations for the last year.
The company advised the sharemarket yesterday that it now expects net profit before tax for the financial year to 31 March 2016 to be in the $21.3m – $21.5m range, ahead of the earlier profit guidance of $20.0m.
Turners Limited director and chief executive, Paul Byrnes, says all trading operations maintained strong performance in the last quarter of the financial year.
“Dorchester Finance and Oxford Finance both finished the year well above budget and last year,” Byrnes says. “Turners Group NZ (previously Turners Auctions) also had an outstanding year with a record trading result 47% ahead of the pre-acquisition profit level.”
The full year results are expected to be announced on Monday 30 May 2016.
