Turners on track for record result

Turners Automotive Group has upgraded its guidance for the 2025 financial year to a net profit before tax of at least $53 million.

This would be eight per cent ahead of the $49.1m achieved in the 2024 financial year and surpasses the company’s previous guidance for a figure of more than $50m.

If the updated total is achieved it will also mark the fifth consecutive record annual profit for the group.

In a statement to the NZX on February 18, Turners says it has continued to grow despite the current cycle of challenging economic conditions because of its diversified business model, clear strategy and focus on customers. 

“The business has recovered with Q3 trading showing a significant step forward over Q1 and Q2, with vehicle margins recovering and interest rates continuing to fall,” it continues. 

The statement adds Turners expects results in the second half of the 2025 financial year for its four business divisions – auto retail, finance, insurance and credit management – to be ahead of the same period a year earlier.

Todd Hunter, chief executive officer, says: “We are pleased to surpass our FY25 profit target of $50m, despite the current economic challenges. 

“Our wider team at Turners continue to do an outstanding job, and importantly, this gives us strong momentum as the team focuses on our next target of $65m by FY28.” 

The company notes it will report its full-year results in late May.