TRA - Turners Automotive Group

[winner (n)]

Might wander along to the annual meeting on 19th if I get time and see if the sausage rolls are hot and shake Todd's hand.  Don't like my chances of getting a hug from Tina but I live in hope and you never know 
Might get an update on trading conditions too.

Won't be anybody there on 19th

It's Wednesday 18th

[Waltzing]

and see if indeed its TINA

There is no alternative ...

well HLG came in well above expectation ...

24 months time and no stagflation there could more many TINA's

more the better...who does not want to see NZ and ASX doing well...

[Basil]

Won't be anybody there on 19th

It's Wednesday 18th

Thanks, quite right.  I did have the entry in my diary right, just mistyped it this morning in that post.
Attendance will depend on the amount of work pressure next week.

[BlackPeter]

Might wander along to the annual meeting on 19th if I get time and see if the sausage rolls are hot and shake Todd's hand.  Don't like my chances of getting a hug from Tina but I live in hope and you never know 
Might get an update on trading conditions too.

Much appreciated if you walk to the AGM (and ask the hard questions and obviously report on it ;

Just one small warning - while I found the TRA shareholder and info meetings I attended so far always interesting and worthwhile to go to, it was never because of the quality of the catering. Obviously - one could say it is good if they don't waste shareholder funds to cater for share holders.

Just trying to manage expectations ;

[Basil]

Duly noted. The lukewarm sausage rolls underwhelmed last time..mind you I haven't been for a few years and the venue is more upmarket now so I live in hope. Happy to share if I get time to attend.

[winner (n)]

Seems a case of who you know and how much money you throw at it

Results in comments like this on social media -

Grant Baker is Chairman of Turners Automotive Group and he owns a substantial amount of shares in the company. Turners is the largest used car dealer in NZ.

He has given $120,000 in donations to Act & National since 2022. I think he got his money's worth

Transport minister pushed ahead with weaker tailpipe standards to meet car industry's deadline

https://www.rnz.co.nz/news/political/528014/transport-minister-pushed-ahead-with-weaker-tailpipe-standards-to-meet-car-industry-s-deadline

[winner (n)]

At least those donations didn't come from Turners per se

Annual Reports  said no  donations to political parties in FY23 and FY24

That's a relief

[BlackPeter]

ASM Presentation for consumption prior to the meeting. Actually - looks much more positive than the sandwich slices I remember from previous meetings .... ;

https://www.nzx.com/announcements/438216

contains useful info related to the recent acquisition of My Autoshop. Price was apparently $3.35m

Outlook and guidance sounding positive:
"
- Expecting a record first half performance with HY25 ahead of HY24.
- On track for exceeding the $50M NPBT goal in FY25 however there remains some obvious risks with the rate of recovery in the overall economy and consumer demand.
"
Will be interesting to listen into the presentation ...

ah yes, and can't hardly wait for all these brand new Christchurch premises to open up - that's three Turners outlets in easy driving distance from anywhere in Christchurch and mid Canterbury (vs. so far one, which was quite hard to access) ;

[winner (n)]

Expecting record first half performance .... that's cool

[Basil]

https://api.nzx.com/public/announcement/438216/attachment/427421/438216-427421.pdf

WOW, in economic recessionary conditions that many retailers are saying are worse than Covid and the GFC, Turners go from one record to another over the last 4 years and yet another record projected for FY25.  Very, very impressive and they are weathering the current economic downturn even better than I expected.  Imagine how well they will do when the economy improves!
Disc: My #1 invested position on the NZX and its staying that way!

[BlackPeter]

Here is the video of todays ASM for anybody who might have missed it:

https://www.youtube.com/watch?v=g0bDAjBJ4RQ

Worthwhile to watch - the dialogue between shareholders and board is one of the best I've seen in such meetings - many great questions (and only a tiny number of time wasters), and always very informative and open answers.

Thanks to Todd and Aaron - you rock!

[Waltzing]

Tak BP...

Sp creeping up a bit this morning....

well ... well done to the team at TRA ...

certainly TINA is the acro applicable...

wonder if TINA has a performance bonus share plan...

[BlackPeter]

Tak BP...

...

var så god

[Basil]

Here is the video of todays ASM for anybody who might have missed it:

https://www.youtube.com/watch?v=g0bDAjBJ4RQ

Worthwhile to watch - the dialogue between shareholders and board is one of the best I've seen in such meetings - many great questions (and only a tiny number of time wasters), and always very informative and open answers.

Thanks to Todd and Aaron - you rock!

Many thanks mate, I look forward to watching that after work.  I really regret not making the time to attend that meeting.  Never mind.  I will be absolutely sure to attend next year's meeting.  The business will be really pumping by then !  Tina might even be there next year dishing out hug's, I live in hope lol

[Waltzing]

tack så mycket BP

and thanks to Sir B for championing this company...