Turners Automotive Group Flags Tougher Fiscal 2027 Trading Conditions, Retains NZ$65 Million Profit Target

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Turners Automotive Group Flags Tougher Fiscal 2027 Trading Conditions, Retains NZ$65 Million Profit Target

MT Newswires Live05:42

Turners Automotive Group (ASX:TRA, NZE:TRA) retained its NZ$65 million fiscal 2027 net profit before tax (NPBT) target despite acknowledging short-term execution risks, and remains confident in its longer-term strategy to reach NZ$100 million in NPBT by fiscal 2031, according to a Wednesday filing with the New Zealand bourse.

The company said fiscal 2027 trading conditions have become tougher, citing weaker consumer confidence, higher fuel prices, reduced demand for diesel and large-engine vehicles, greater pressure on vehicle margins and a 14% year to date decline in ex-lease sales volumes through July, per the filing.

Meanwhile, the company's group profit for the four months to July was 4% ahead of fiscal 2026, driven by strong finance growth, with the loan book up 7.5% since March and arrears remaining stable, the filing added.

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