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New Zealand Stock Update: Turners Automotive Group

Turners are a company at the coalface in terms  of New Zealand’s economic growth. The company is named for their well-known car auction business, which accounts for 37%  of operating profit. This is the biggest seller of second hand  cars  in NZ. The auction house is really just part of an overall supply  chain that is focused on providing  finance  and insurance. Turners  Auctions provides ready access to potential clients in this regard. The finance  and Insurance part of the business accounts for 41% of operating profit. The other step in the chain for Turners is their debt  management business, which accounts for 22% of operating profit. All three businesses complement each other well, and create many cross selling opportunities.

Price: $2.36

Mkt Cap: $202m

P.E Ratio: 10.9

Gross Dividend Yield: 10.00%


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