Forsyth Barr expects continued margin pressure at Turners Automotive
Forsyth Barr forecasts Turners Automotive's first-half pretax profit up 3% but cut its price target by 1.9% and kept an "underperform" call.
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what happened
According to Market Talk, citing Forsyth Barr, pressure on Turners Automotive's margins could last a while longer. The brokerage says the Auto Retail segment depends mainly on domestic used-vehicle turnover, which is facing a tough market. Analyst James Lindsay described current market conditions as challenging.
Still, Forsyth Barr expects Turners to lift first-half pretax profit to NZ$31.3 million, up 3% on the year, as growth in Finance offsets weaker retail sales. The analysts remain constructive on Finance and on site expansion from FY28, but the near-term outlook is subdued. The price target was trimmed 1.9% to NZ$7.60 a share, and the "underperform" rating was kept. At the time of the report, Turners shares were up 0.4% at NZ$7.35.
why it matters
The story is moderately significant: it shows Finance growth trying to cover a slump in used-car sales. Investors following the sector will watch domestic demand for used vehicles in New Zealand.
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instruments
sources
- Pressure on Turners Automotive's Margins to Continue — Market Talk, 27 October 2026 at 22:12 UTC
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