NZ's Turners Automotive jumps on higher profit, upbeat outlook

Turners Automotive

25/05/2021 24:20

** Shares of Turners Automotive Group  TRA.NZ  jump as much
as 4% to NZ$4, marking their highest level since May 12, 2008
    ** The automotive financial services provider says FY net
profit after tax is up 28% at NZ$26.9 mln ($19.42 mln), helped
partly by cost management  urn:newsml:reuters.com:*:nNZW5slvbV
    ** Declares final FY21 dividend of 6 cents per share 
    ** Adds shareholders should expect to see improved results
in FY22 and an increase in FY22 dividends
    ** Says net profit before tax in FY22 will be higher than
FY21
    ** Stock is up 22.5% this year, as of last close


($1 = 1.3854 New Zealand dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))