NZ's Turners Automotive rises most in nearly 4 months on forecast hike

Turners Automotive

10/03/2022 23:34

** Shares of Turners Automotive Group Ltd  TRA.NZ  rise as
much as 3% to NZ$4.12, marking their biggest intraday pct jump
since Nov. 18
    ** Automotive financial services provider now expects https://www.i-search.nzx.com/blobs/DPC000000/527253/DPC000000-366468.pdf
 fiscal 2022 net profit before tax of between NZ$42 mln ($28.83
mln) and NZ$43 mln, up from previous range of NZ$40 mln and
NZ$42 mln
    ** Expects full-year dividend of 23 NZ cents per share,
above last year's 22 NZ cps
    ** Says TRA "continued to gain market share in auto retail,
reflecting a widening advantage over competitors"
    ** Adds it expects a return to normal operating conditions
"reasonably quickly" following the recent outbreak's peak
    ** About 48,000 shares change hands, vs the 30-day average
of 25,700 shares
    ** TRA down 10.5% this year, as of last close

($1 = 1.4567 New Zealand dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))