New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Turners Automotive Group's (TRA) 1H25 result demonstrated the value of its diversified businesses amidst challenging operating conditions.</li><li>Net profit before tax (PBT) increased modestly to a record NZ$26.9m, despite a significant decline in used vehicle prices and margins across the auto market.</li><li>Weakness in TRA's Auto Retail segment was offset by disciplined cost management and a strong recovery in Finance, as the start of the interest rate loosening cycle supported an expansion of net interest margins. </li></ul>

Turners Automotive Group's (TRA) 1H25 result demonstrated the value of its diversified businesses amidst challenging operating conditions.Net profit before tax (PBT) increased modestly to a record NZ$26.9m, despite a significant decline in used vehicle prices and margins across the auto market.Weakness in TRA's Auto Retail segment was offset by disciplined cost management and a strong recovery in Finance, as the start of the interest rate loosening cycle supported an expansion of net interest margins. 

Turners Automotive Group Ltd - Driving Through the Market Downturn in 1H25