Turners has produced an impressive half year result to September, reporting a before tax profit of $11.76 million.
After tax it drops to $8.53 million, with strong results across its automotive retail, finance and insurance and debt management divisions.
The result includes two months trading from Buy Right Cars, which it bought in July, but excludes any contribution from the purchase of Autosure Insurance which was announced earlier this week.
Turners chief executive Todd Hunter is pleased with the result.
“Turners has once again delivered on its guidance to shareholders, with a strong half year result and a further uplift in performance.
“All divisions delivered improved revenue results.”
Additional earnings and new growth opportunities are being generated from acquisitions and investments, he says.
The company’s automotive and retail division delivered a 31% increase in operating profit to $6.91m, while its finance division’s operating profit, with its shift in focus to more consumer automotive related lending, grew 7%.
Meanwhile, its debt management division posted a 51% increase in operating profit to $3.4 million.
