TRA - Turners Automotive Group

[Ferg]

It's a symbiotic relationship.  Each role in a business cannot function without the others.  Yes it mostly starts with sales, but it actually ends with the cash and there are a LOT of bits in between.  Try getting sales when your Sales staff are not being paid, or have to waste time grumbling about their pay and getting it corrected.  Or you can get your expense claim reimbursed in the month after next when the major client pays.  Background things don't happen by magic.  It could be the lowest paid employee who can actually wreck your business - and in any area, whether that be your sales team, logistics, warehouse, customer service, your receptionist, management, admin....anyone.  So better if everyone is motivated.

[KW]

"Turners has partnered with online investment platform Sharesies to launch an employee share scheme. The scheme provides the opportunity for permanent (part-time and full-time) employees of the business to invest $1,000 and receive $1,500 worth of shares at the completion of a 3 year vesting period. In order to encourage broad participation the company is also offering a three year interest free loan to acquire the shares to all staff."

hardly "caviar" but delighted by the clarity and banter

If they are paying for those shares then its much better than the schemes where they get them for free, so they have no real impact (people do not value things they do not pay for).  I know that having free Telstra shares did not do anything to make me a better employee.  If I'd had to cough up for them I'd probably be more "invested" lol

On another note, if anyone from Turner's is reading this, I want to say how much I love Tina from Turners   

[Basil]

I love Tina too !!

[Basil]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TRA/397074/376670.pdf

Turners continue to build a solid and resilient business.  Good to see despite challenges with Omricon Q1 performance in FY23 is in line with last year.

I think that positions them well for FY23 as they lap last years Q2 and Q3 periods which were heavily affected by the (very difficult to navigate), 107 day Auckland region-wide lockdown last year.

$50m NPBT target for FY25.  Negotiations under way for more branches.

Jarden released a comprehensive report on 3 August and rates Turners "Overweight" with a price target of $4.27.
I think they will be very pleased to see arrears holding at very low levels and Turners making a solid and resilient start with Q1 performance.

Disc: Happy holder.

[winner (n)]

So besides having about $19m difference between market and book value they also seem to be sitting on a 'material Covid-19 arrears provision buffer' to allow for uncertain times. If I heard right it's not cash per se but potential future profits

[Basil]

So besides having about $19m difference between market and book value they also seem to be sitting on a 'material Covid-19 arrears provision buffer' to allow for uncertain times. If I heard right it's not cash per se but potential future profits

Doggy likes there sort of semi secret reserves.  Bit like having a secret stash of bones in case there's a rainy day and you get hungry.

[Basil]

Congrats to the Turners team  http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TRA/398917/379152.pdf

[Onemootpoint]

Congrats to the Turners team  http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TRA/398917/379152.pdf

Commercials and other marketing material; a necessary evil for many. Bit love it or hate it, this one is sticky and effective.

[KW]

Commercials and other marketing material; a necessary evil for many. Bit love it or hate it, this one is sticky and effective.

Its very good, not only in that people like it, but that they remember it, and more importantly they remember who it is advertising.  Often times an ad might be great, but no one can remember who the advertiser was - case in point, the ad with the keas picking a car apart, great ad, but no one could remember what it was advertising (insurance) or who the insurer was.  

[Basil]

I had a small hand in the Tina marketing.  Picked it early that she was a very effective personality in a similar way to how Tammy has been such a roaring success for Briscoes.  Had a quiet word to Todd Hunter some time back and strongly encouraged him to lock Tina into a long term contract.
I think she's got personality plus !!!

[Hectorplains]

I had a small hand in the Tina marketing.  Picked it early that she was a very effective personality in a similar way to how Tammy has been such a roaring success for Briscoes.  Had a quiet word to Todd Hunter some time back and strongly encouraged him to lock Tina into a long term contract.
I think she's got personality plus !!!

I had to Google to see what this was referring to.  Where are these ads being shown and who exactly is the target audience?

[Basil]

https://www.youtube.com/watch?v=aAiGi7vzYuY

[winner (n)]

One of those 'positive' announcements to give you warm fuzzies now but to temper any expectations of profit increases like last year .... so when npbt comes in essentially no growth (modest that is) it won't be a surprise .... pretty clever eh

Could say a 'veiled' profit downgrade? But then again some guru analysts weren't expecting any profit growth in F23 anyway.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TRA/401078/381796.pdf

[lorraina]

 Strong growth in market share is positive.

[BlackPeter]

Strong growth in market share is positive.

Absolutely.

Though still trying to align this horror market scenario for 2023 everybody is talking about with positive results for TRA. Loan default rate on vehicle loans is already rising - and for sure won't get better with a rampant inflation combined with the promised recession.