Despite a slow economy, Turners Automotive Group (ASX:TRA, NZE:TRA) reported "solid results" for the fiscal first half, Jarden Research said in a Nov.25 note.
Turners Automotive Group reported earnings per share of NZ$0.2172 for the first half of fiscal 2025, up from NZ$0.2124 in the year-ago period. Total revenue for the six months ended Sept. 30 fell 2% to about NZ$209 million.
The automotive company reaffirmed its guidance that the business is "on track for a record result for [fiscal 2025]," with net profit before tax expected to exceed the NZ$50 million target.
"A solid result with few surprises," Jarden said.
The investment firm added it will now look to understand the recent momentum in vehicle sales margins.
Jarden maintained the company's overweight rating and a price target of NZ$4.96.
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