Turners Auctions expects 10 percent rise in annual profit after improved second half

Turners Auctions, the auction house that counts Dorchester Pacific as a cornerstone investor, expects annual profit to rise about 10 percent after improved trading in the second half of the financial year.

That's an improvement from the company's previous expectation in August that net profit would be close to the year earlier $4.2 million, the Auckland-based company said in a statement. The auction house had previously warned it faced a tough year as it made up for the loss of a contract with Insurance Australia Group to sell damaged vehicles, which accounted for about 15 percent of earnings.

Turners expects to release its annual earnings for the year ending Dec. 31 on Feb. 13, the company said today.

Shares in Turners last traded at $2.27 and have gained 23 percent so far this year.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report
July 1st Morning Report
June 27th Morning Report
SDL - FY2026 Earnings Guidance
PaySauce Director resigns for US-based role with NZTE
General Capital Releases 2025 Annual Report
June 26th Morning Report