Sounds to me as though Turners were selling on behalf of the lease company,and the new owner was also one of the lease company's clients.
Turners sell cars for a number of lease companies.
Holden have a large stock on hand due to a maket perception particularly across the ditch they are no longer dinky die true blue Aussie and other munfacturefs offer better value than the badge egineered Puegots and Daewoos they sre cuurntly flogging.
Giving a replacement to buyer of a lemon car a least gets one vehicle out of the paddock.
Check the make year.
Boop boop de do
Marilyn
I think you may need a new Keyboard Marilyn
Wow still nothing. The guys must be really busy counting all the sales from the weekend. No news is good news, don't ya reckon Winner?
Too busy to count or too busy to scratch the bottom of the barrel to find another sale?
Don't think though, they are required to make an announcement unless they find out that they did materially undershoot their amended target or that they did overshoot their original one (yeah, right). Just relax, enjoy the next couple of months and give them time to count their beans ;);
I'm not too sure what you guys are waiting on? Last year they did announce the dividend on the 31st March, but there was no profit upgrade/downgrade type announcement anywhere near the date. They only do those if they are material and under NZX rules have to inform the market. Their next profit result should be announced within 2 months after 31 March, so probably towards the end of May.
Divie due next week ....cool .....a bit of a reward waiting for the share price to get back to 3 bucks
Percy, Todd Turner told you what’ll the divie be?
The vehicle fleet in NZ increased by another 140,000 last year while population up 82,000
NZers lover their cars
More ticket clipping ahead for Turners
That divie might just be 4.5 cents next week ...that would be cool
LOL I for one would be pleased to see it back to $2.50.
I grew bored with the ever decreasing SP tied to the Share buy back - so lost interest in it. See there haven't been any announcements lately. Are they still buying back
Don't blame you mm. Lots of people underwater by heaps with this one.
Buy back finished on 31 March 2019 to the best of my knowledge but this is Percy's baby so he would know for sure.
I believe the buyback is stopped before announcements are made... or directors sell shares.
I am very surprised we are yet to see anything from the company given the uncertainty around performance. I suspect something must be in the works, whether good or bad.
https://www.nzx.com/announcements/327416 Dug out the original announcement seeing as there's a bit of interest in this subject.
I would have expected a trading update and dividend announcement by now and like JohnnyTheHorse feel something is in the works.
My sense is the share price has been telling us for quite some time that trading has been tougher than expected. Whether that's already factored into the current share price is the (thankfully a lesser amount for me) $64,000 question.
From that annopuncment "Turners is in a strong financial position and the buyback is seen as an efficient use of capital while the share price remains below the intrinsic value of the business." So maybe at $2.25 intrinsic value is met.
On 29/3 last year they had their Divi announcement. On 4/4 a Shareholder newsletter went out. I have a feeling in my waters no news is bad news.
Market share gains = more clipping the ticket = greater profits
Ticket collectors busy ......
.......But I think there are too many Fat Controllers
No Fat Controllers at Turners.
All wear running shoes,and have large biceps [from ticket clipping].
NEW VEHICLE REGISTRATIONS FALL IN MARCH AS MARKET SOFTENS FURTHER
http://www.sharechat.co.nz/article/f...s-further.html
Another day and still no announcement re dividend unlike previous 2 years.
Seriously, NOT a good sign.
Even if not required to ‘disclose’ anything you’d think they would behave like real used car salesmen and put out something that sounds good ...nothing like a bit of self promotion is there
And Percy wants to hear about the buyback being extended and of course how big the divie is going to be
Maybe staying quiet because final stages of the scheme of arrangement being worked on which will put us all out of our misery at $2.60
Maybe the unofficial company spokesman on here should give his mate a call and find out what's going on ?
probably in a meeting to decide what mth they will do the downgrade and div slashing
That's what they said in last years inaugural March 2018 newsletter (published 4/4/18):
Attachment 10440
They do realise that it is important to keep shareholders up to date. I am sure the update must come now any day (any hour?) ...
Surely...as we know Todd also keeps an eye on this forum.
Something simply does not add up with the lack of update from TRA imo.
(i) Share price has fallen 17% since the share buyback was announced.
(ii) Fall could conceivably be more if the share buyback was not in place.
(iii) Why has TRA only bought 60% of the share buyback if it is so undervalued (by the directors' reckoning).
(iv) One of the directors actually decided to sell a few of the 'undervalued' shares into the share buyback! Joining Milford who decided to take advantage of the share buyback to unburden themselves of a few of said 'undervalued' shares!
(v) No dividend announcement post 31 March vs previous years.
Old timer cautioned me years ago to be wary of companies who are quick to announce 'good' news but tardy when there is bad news!
Hmm Add to that For Bar introducing them as an Emerging Company when they have been around for years. Seems like a bit of dressing up. Was mentioned at the time. Ducks are lining up for an ugly result.
Stop loss now in place and ready to be triggered
Glad did not get into this one but been obviously keeping an eye on this stock after making a few $$$ off the Baker Boys efforts in 42 Below and Trilogy.
One thing I must admit I was wary of is this business of 'clipping' the ticket many times - the finance and insurance industries have had a habit of blowing the gasket from time to time, especially when the 'growth' machine stalls. Bad debts have a nasty habit of emerging when hard times strike.
And the car industry is certainly going backwards after enjoying good growth over the last 5 years - let's see how TRA handles the reverse cycle, especially with the acquisitions they have made in recent years.
Import rules for cars and shipping containers could be tightened even further as the Ministry for Primary Industries
https://www.stuff.co.nz/business/far...-stink-bug-out
One thing that Turners have is scale, so in whatever they do it should be at scale. I am looking fwd to seeing what Oxford finance is growing at. I think that part of the business will do well over time, regardless of whether we buy cars from their sites or not. The other area that will be interesting to watch is the Mechanical insurance part, for most people who buy 2nd hand - the fear is there to include mechanical insurance. Before everyone jumps down my throat, yes I know new cars are quite reasonably priced these days....but you cant beat buying the same car with a few kms on the clock at a fraction of the new car price - its just human nature to find a deal. Anyways only time will tell how Turners will do.
Not a good day for Turners on the ASX, down 24% :eek2:
Bizarre!
Last trade was in January 2019 and there's hardly any trading there.
Guess the Baker boys were trying to do a Trilogy? List on ASX and while the sp was trending upwards, place shares over there to the ever eager Ozzie instos?
Guess the Ozzies are a bit shy after getting the Trilogy shares from them at $3.70 so that's why nothing has happened on that front?
The ASX listing is purely cosmetic. Many ASX funds and insto's require in their mandate that if they wish to purchase stock it must be listed on the ASX. Having the listing means that TRA are open for Australian fund managers to purchase TRA stock. They do so on the NZX because that is where the liquidity is. This has been discussed on this forum before.
Liquidity must surely be a function of demand. ATM / A2M seem to have no problem with liquidity on the ASX. It is quite clear Australians dont see TRA as a sound investment opportunity.
(wonder if we will get a post market close announcement on reduced divvy today?)
Divi announcement4.0 cents per share. The record date will be 23 April 2019 with a payment date of 30 April 2019.This brings the total dividends paid or declared for the 31 March 2019 financial year to 12.0 cents per share. The Board advises that it also expects to declare a fully imputed final dividend of 5.0 cents per share payable in July 2019.
Quite a few shares held by Aussie investors Byrnes said at the AGM .....heaps actually
Awesome news about the divie.
Hope it’s not fake news eh Percy
No news about profit is awesomely good news as well .....$34m npbt on way
EBO is also listed on ASX.The majority of their over $7 billion turnover is in Australia.Their CEO and CFO are in Australia.Look at the depth of orders.
Liquidity is in NZ.
As Blackcap pointed out ,Aussie intos buy in NZ,however they can only buy if they are listed on ASX.So it does not make any difference if none are ever traded in Aussie.
Well the divie announcement is as expected,so again the "Fake News" has been just that !..
No surprises there.!
Not awesome,just confirming what they said last October.Also confirmed last October's statement they expected to pay a 5 cents dividend in July.
.
Not sure what I expect the NPBT will be.
Oxford Finance revenue will be up,helped by extra deals from Turners [good margin] and increased number of originators.
MTF non -recourse impairement loans most probably still a drag.
Buy Right Cars.Hopefully most of the old stock has been cleared.
Turners vehicle sales may be steady helped by relocated and new sites.
Autosure Insurance will be very profitable.
End of Life vehicle logistics will also be very profitable.
EC Credit.I am not sure about.
Property sales/development.Could be another very large profit ticket.
I also expect they will announce an extension to the share buy back.
What will be really interesting to me will be their outlook statement,as I feel everything is coming together nicely.
Would a rerating of Turners be too much to expect? I will not hold my breath
Must be on track to meet earlier guidance so that's good. Possibly reasonable buying at the current heavily beaten down level.
Still a long way off from a reversal of the downtrend - I personally wouldn't be risking it myself, but I guess those who dare, win (sometimes)
would the TRA buyback of shares not apply to the ASX as well as the NZX? Not that there are any shares for sale on the ASX at the mo!
He does ...but I wouldn’t nominate him for Business Communicator of the Year
And some would say that some are only ‘Half Facts’
And of course the biggest ‘Fake News’ of the year came from Todd saying Turners shares were worth way north of $3 ...but that’s not really a ‘fact’ but just sonebody’s opinion
You must have been friends with Mark Z and got the shares before IPO?
I told a friend the same thing about Aquaria 21 when I bought the shares at 15c. It came true only because the market got excited about Eric 'Tax Evasion' Watson using it as a backdoor list for 'Flying Pig' so I doubled my money!
Nope didnt have enough cash when it IPO'd, bought when it took a dive, actually had a look now and bought the first lot at $17.86. NVDIA will be the same in teh years to come.
They had too many "customers" not to be able to make a profit in the years to come. Always felt i missed the boat with Google hence FB it was. Now they have Insta which would add more to that ongoing cash flow. My big call now is Disney, so lets see how that plays out with all the IP that they own for streaming.
Anyways back to TRA, looking fwd to the divies. In the market for a ute, might stop there and see whats for sale.
Directors should look at how Sky City does a share buy back. Started today and SP up 2.3%
I'm not sure the idea of a buyback is to actually increase the SP. For mine the idea is to increase the EPS going forward of the company (thus increasing the SP). If the company can do this with as little use of funds as is possible it is all the better for shareholders. I as a shareholder would rather TRA buy back shares in the $2.30 range than say the $2.65 range. Going forward that is better for TRA as they have more cash left over for other things like dividends and future growth.
Why the shareprice is retreating after the company announces a buy back, well that is another thing entirely.
So very true.
An interesting project for some one good with figures.
Turners appear to borrow at approx 4.5%.
Their gross dividend yield is 10%
Dividends are paid from NPAT,while the interest TRA pay on borrowings is deductible.
Their nett interest margin NIM is over 9%.
Playing around with the above figures it is easy to agree with you,,"the amount to pay out dividends is significantly reduced."
Well well well where are our chartist friends?.Asleep.?
MACD positive.
Share price up through, 30 day,60 day and 90 day moving averages.
Strong buying strength.
Hmm - reading your post I thought I missed something and looked at the chart:
Attachment 10460
Not sure this looks like a confirmed uptrend to me (yet) ... but sure, it might turn into one at some stage.
I recon however we still will need to wait for the financials end of May (unless they announce something really positive earlier).
Anyway - happy for holders that the SP didn't further decline and even slightly improved ... though still quite content with my decision to move my funds to HGH at the time I did it;);
Remind me - what was the price of the last heavily discounted capital rise? Long way to go to reach that again ...