• Turners upgrades FY25 profit guidance to at least NZ$53M, 8% ahead of FY24
• This will be the fifth consecutive record profit for the company
• The business has recovered with Q3 trading showing a significant step forward

Turners Automotive Group Limited (NZX/ASX: TRA) has announced an upgrade to its FY25 guidance to a net profit before tax of at least NZ$53M, 8% ahead of the NZ$49.1M achieved in FY24. This will be the fifth consecutive record profit for the company. Despite challenging economic conditions, Turners has continued to grow through the cycle, due to its diversified business model, clear strategy, and focus on customers. The business has recovered, with Q3 trading showing a significant step forward over Q1 and Q2, as vehicle margins recovered and interest rates continued to fall. The company is expecting the 2H25 results for all four business divisions (Auto Retail, Finance, Insurance and Credit Management) to be ahead of 2H24. CEO Todd Hunter stated that the company is pleased to surpass its FY25 profit target of $50M, despite the current economic challenges, and this gives the team strong momentum as they focus on their next target of $65M by FY28. The company will report its full year results in late May.

Turners has upgraded its FY25 profit guidance to a net profit before tax of at least NZ$53M, 8% ahead of the NZ$49.1M achieved in FY24.