That bell-end pattern thingy I was going on about now just looking like a nice uptrend on rising volume.
https://encrypted-tbn0.gstatic.com/i...OUiZvXbr0FLbVQ
That bell-end pattern thingy I was going on about now just looking like a nice uptrend on rising volume.
https://encrypted-tbn0.gstatic.com/i...OUiZvXbr0FLbVQ
There are quite a number of better yielding companies than Turners but I think its quite clear SKT earnings are in for ongoing decline which must affect their ability to pay dividends eventually https://www.marketscreener.com/SKY-N...57/financials/
I think the market update gave us some comfort this week and its good to know that management are working hard on a comprehensive review.
The move to one brand is definitely a good one and the TV advertisements with Ollie are very good and should be continued.
I am hoping for a gradual recovery in the share price to the $2.60 - $2.70 over the next year and I think that's realistically achievable.
The sale of lease vehicles is a very steady earner for Turners,who sell on behalf of the lease companies.
The lease companies dictate the terms,and it is their choice that they are sold,basically as leased.
ex lease cars are often a good buy as part of the lease aggreement is the vehicle must be regularly serviced by an approved agent.I remember a rep had to get the lease company's approval to buy a replacement tyre.
Yes Turners sell a lot of imports,as do most used vehicle sales companies.
I can not comment on the Wellington site,other than it looked good in the photos and is trading above expectations. I also seem to recall it is more of a temporary site,and when it is redevoped, Turners will move their container buildings,and vehicles to another site.
You and snoops better come up with a convincing ‘normalised’ story
They npbt to be above $32m for F19 ....let’s be kind and say $32.5m (the year has ended and they only fine tuning the numbers and if it was going to be $33m they would have said so eh
Well, that implies second half profit will be 7%/8% LESS than last year (before the huge one off costs)
Things obviously continue to be a bit of soft / challenging side
I have often stated there are two areas of concern to me.
1] Buy Right Cars.
2] The length of tail for the MTF bad non-recouse loans,.
Rebrading BuyRight Cars to Turners will fix that problem.
We do know Turners tightened their lending criteria for MTF and other non-recourse loans in April 2018,so that tail should be getting shorter.
So I think the result will be messy with one off rights offs, and one off property gains.
Therefore the outlook statement will be all important.
1. Rebranding is a good idea but it does not fix old problem stock.
2. How long is the tail with those problem non recourse loans ?. I have never once seen any finance company admit to a problem and then the problem being less than first estimated, its is always much worse than first thought, Always !...this image probably best sums things up https://www.bing.com/images/search?v...0&vt=0&eim=1,6
Both these things will "Dog" sorry couldn't resist, the company well into FY20.
I suspect the comprehensive review they're undertaking at present is focusing among other things, the complexities of the above two matters.
No euphoria from this dog, just realism.
There is an old saying in business;
"We appear to have a problem?."
Once you have said that and know what the problem is ,you are a long way to fixing that problem.
This is the case with Turners.
MFT did it with both Australia and Europe.EBO did it with Australia.
’Houston, we have a problem’ was in the film but Jim actually said ‘Houston, we had a problem’
Maybe Turners had a problem and it’s all fixed just like Apollo 13 getting back home safely was and Todd Turner is a hero
Agree with what you say about problems Percy but Turners seem to have a never ending set of problems ..wonder what the next one they tell us is.