Turners Automotive Group Retains FY27 Target Amidst Market Risks
Key points
- Lower demand due to Middle East conflict and higher fuel prices
- Vehicle margin impact more pronounced than anticipated
- Group profit tracking ahead of last year, driven by Finance growth
- Turners remains confident in long-term strategy and medium-term target
Full summary
Turners Automotive Group (NZX/ASX: TRA) has released an update on its trading since 31 March 2026 and its outlook for FY27. The company retains its FY27 target of $65m NPBT but acknowledges increased market risks due to lower demand, particularly in large engine vehicles and diesel products, stemming from the Middle East conflict and higher fuel prices. Vehicle margins have been more adversely affected than anticipated. However, group profit is 4% ahead of FY26, with Finance growth more than offsetting the reduction in Auto Retail profit. Turners remains confident in its long-term strategy and continues to track towards its medium-term target of $100m NPBT by FY31.
Guidance
Turners Automotive Group retains its FY27 target of $65m NPBT.
Outlook
Turners remains confident in its long-term strategy and continues to track towards its medium-term target of $100m NPBT by FY31.
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