Turners Automotive Group Limited (TRA), listed on both the NZX and ASX, has revised its earnings guidance upward for the fiscal year ending March 31, 2026. Turners Automotive Group Limited is an integrated financial services group, primarily operating in the automotive sector. The company now expects net profit before tax (NPBT) before goodwill adjustments to be approximately $63 million. This is an increase from the previous guidance of ‘around $60 million’ and is nearing the FY28 profit target of $65 million.
The updated forecast reflects robust trading performance across all core business divisions, particularly due to positive summer trading. The Auto Retail division has seen strong vehicle sales volumes and improved vehicle margins, attributed to disciplined purchasing, effective pricing strategies, and continued gains in market share. Finance lending activity has also been strong, with record new lending figures in January and February. This aligns with Turners’ objective to expand its lending portfolio while maintaining credit quality and market share in the vehicle finance sector.
In addition to the earnings upgrade, Turners has conducted a review of the carrying value of its EC Credit business, as indicated in its half-year results. The review anticipates a non-cash goodwill write-down of between $7 million and $9 million. EC Credit is the smallest division within the Group and is considered non-core to the automotive platform strategy.
CEO Todd Hunter expressed satisfaction with the company’s performance across all three core divisions, noting it as a significant accomplishment given the current economic challenges. The company plans to provide further details at its full-year results announcement in May and will present its five-year strategy at an institutional investor day on March 24th.
