Turners Automotive Group (ASX:TRA) performs ahead of expectations

Company News

by Rachael Jones

Turners Automotive Group (ASX:TRA) expects FY21 Net Profit Before Tax to be at least $35 million, compared to January 2021 NPBT guidance of $33 million to $35 million.

This follows trading results exceeding expectations across Auto Retail, Finance and Insurance business units in January and February.

This forecast assumes no major escalation of Covid-19 restrictions.

All three major business units continue to perform ahead of expectations, despite the trading restrictions caused by February’s partial lockdowns.

These strong results have confirmed the directors’ confidence to project a full year dividend of 18.0 cents per share.

Shares in Turners Automotive Group (ASX:TRA) last traded at $2.85.