NZ's Turners Automotive jumps most in more than 2-1/2 years on HY outlook

Turners Automotive

10/10/2023 01:04

** Shares of Turners Automotive  TRA.NZ  jump as much as
6.7% to NZ$4.160, posting their biggest intraday pct gain since
Jan 19, 2021
    ** The automotive financial services provider sees HY profit
before tax of at least NZ$25 mln ($15.07 mln)
    ** HY23 net profit before tax was NZ$23.4 mln     
    ** Co says market share on track to exceed 10% in near term 
    ** Adds focused on achieving target of NZ$50 mln profit
before tax by FY25 
    ** Shares hit their highest level since April 5, 2022
    ** Stock up for a sixth consecutive session
    ** TRA stock up 18.5% YTD, as of last close
     
($1 = 1.6586 New Zealand dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))