TRA - Turners Automotive Group

[Basil]

Yes this is a fresh all time high.  The previous highest close was 7 January 2022 @ $4.59, (intra day high $4.61).

[winner (n)]

MT Finance going well

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MTF/422348/408120.pdf

[Waltzing]

Is there anything in the annoucements to day that will help this and other automative buisness...
its all go... as of 11 am this day 24 11 2023.

 

[lorraina]

A very strong result from Motor Trade Finance.
 Net interest income and fees have increased 32% to $45.8m
• Operating expense ratio has decreased 1%
• Profit after tax has increased 38% to $11.6m
• Underlying profit after tax has increased 71% to $11.3m

[Basil]

Just giving this a bump as it's on this afternoon.  Please support this new initiative from the Turners team to communicate with retail investors.  Very few if any other companies bother to do this so by supporting this and registering for the event you are supporting the continuation of a new and in my view, very healthy level of engagement with smaller shareholders.  Yes, I know its Friday afternoon and Black Friday sales are on, but those who do the overtime and stay late, get the best insights.

Hi there everyone wanted to schedule in the Q&A with Aaron Saunders and myself for this Friday (24/4) at 5pm. Link below for registration.
You can ask questions on Friday either through the audio function, or the Q&A function or you can email me any questions to todd.hunter@turners.co.nz
You are invited to a Zoom webinar.
When: Nov 24, 2023 17:00 Auckland, Wellington
Topic: Turners Q&A for Sharetrader Community
Register in advance for this webinar:
After registering, you will receive a confirmation email containing information about joining the webinar. 

Use this link to register  https://turners.zoom.us/webinar/register/WN_5kSbimoFR0SqI304ByfFRQ#/registration

[Basil]

Forsyth Barr forecasting Net profit before tax of $48m+ in FY24, rising to $52m+ and $56m+ in FY25 and FY26.
Dividends 25 cps this year rising to 27 cps and 29 cps in FY26,...very nice. With dividends paid quarterly and strong projected growth like that, surely this makes Tuners the "purrfect" dividend hounds stock 

[winner (n)]

Forsyth Barr forecasting Net profit before tax of $48m+ in FY24, rising to $52m+ and $56m+ in FY25 and FY26.
Dividends 25 cps this year rising to 27 cps and 29 cps in FY26,...very nice. With dividends paid quarterly and strong projected growth like that, surely this makes Tuners the "purrfect" dividend hounds stock 

Most FY24 forecasts are implying a weakish second half ......do the same as last year npbt will be ~$48m for full year

[Basil]

Yeah, Forbar's note reflecting the conservatism expressed in the call. Nothing wrong with good old fashioned conservatism, under promising and over delivering, almost a lost art on the NZX these days.  I like their forecasts of 7-8% growth in earnings in FY25 and FY26 making it a "Bakers" dozen of years growing at that CAGR, yet still lurking on a FY25 PE of ~ 11.  (Can't help ironically observing that what very few other companies on the NZX that have achieved that sort of consistent growth, generally get rerated into PE's in thew 20's or more).   
TRA a classic GARP stock.

[Waltzing]

looks like its topped out for the mo...

[Basil]

Huge demand coming with index inclusion to be announced late next week and buying effect kicking off 4 December.

[lorraina]

Help.
I missed the first 10 minutes of the presentation.
Can any one please fill me in on what I missed.?

[Basil]

Just trying to work out what you missed.
Did you get all my Questions and their answers ?

[lorraina]

I think so.Todd was answering a question from you when I joined.
Good questions.
Excellent answers particularly on their finance book..

[seaweed]

Huge demand coming with index inclusion to be announced late next week and buying effect kicking off 4 December.

Good interview Bas. It was loud and clear. And a few kind words from Mat at the end. Inclusion announcement to be on 1/12/23 and inclusion day on 15/12/23 correct me if I'm wrong.

[Basil]

Thanks seaweed. Glad it came though clear as my wi-fi here is pretty ordinary at times. Really great Todd and Aaron engaged with us retail investors like that and committed to do so in the future each half year.  You're right on announcement date for NZX50 inclusion but please note The Dow Jones indices thing, where it's based is on US time so expect confirmation of NZX50 inclusion sometime Saturday morning 2 December our time.   I'll post a link confirming inclusion as soon as I see it.

lorriana - Thanks. I don't want to belittle the first lot of questions that were asked and answered by others but I don't recall any special insights being forthcoming from that initial few minutes of the meeting.  Not sure you missed much but then again it could be just my memory is not 100% on a Friday afternoon lol.

Great anecdotes shared on the Tauranga property acquisition. Also very proactive on other site acquisitions. Gosh those guys are right on top of their game.
Love that our rock star Tina is fully engaged with the business and will be a real winner in driving market share gains going forward just as she has been in the last few years.  Decent NIM recovery next year even without any change to the OCR settings gives encouragement too.

A lot to like with this company.