Just been watching a 33 lot auction on turners tauranga, most were passed in many without even low low bids. How does TRA make most of its money as i watched the auction last week with similar results!.
Just been watching a 33 lot auction on turners tauranga, most were passed in many without even low low bids. How does TRA make most of its money as i watched the auction last week with similar results!.
They used to make their money through auctions and left most of the margin to the retailers who bought in auctions. They found that this is not smart and changed their strategy.
These days they make most of their money in retailing the cars themselves (not selling them cheaply in auctions). They sell on top of that finance and insurance for these cars - you find them in "BuyRight" courts (http://www.buyrightcars.co.nz/) and on their own website (https://www.turners.co.nz/). They start as well to add value in servicing and repairing cars. One stop shop for all car needs - not a focus on auctions anymore.
Obviously - don't forget trucks and machinery - and last not least - their debt management unit makes a profit as well ;);
http://www.turnersautogroup.co.nz/si...%20Results.pdf
Thanks BP, for bringing me up to date , makes more sense now, cheers JT
Well with the buy side loading up, I thought we would see an announcement today.
Going by the buyers it must be not far away.?
We live in interesting times.
Yes the excitement builds.
Have we moved from "well positioned" to "poised".?..................lol.
I am holding myself at the ready .
Still no buyers or sellers in Aussie.
Looks to me as though the shares placed in Aussie have been dumped in NZ.
I don't mind doing my community service and helping the Aussies out.
Its the only one that I accumulated on the NZX during the market scare a few months ago, so hoping for a decent announcement soon.
=LAC;708865]Its the only one that I accumulated on the NZX during the market scare a few months ago, so hoping for a decent announcement soon.[/QUOTE]
WHOOPEE DEE.
Quarterly dividend increased from 3 cents per share to 4.5 cents per share.
Up a massive 50%.
Does not appear we will get a trading update,as per last year,guidance remains the same,however a "newsletter" is on its way.
I think the massive increase in divie says it all.
Record date for the divie is16th April and it is payable on the 20th April.
Yup just read that!!
Happy holder;) What's your famous words again.....