Vehicle auctioneer Turners Auctions' first-half net profit jumped 19 per cent as it recovered from earthquake-related disruption in Christchurch last year.
The company is forecasting full-year profit will be up between 2.7 per cent and 10.8 per cent, or between $3.8 million and $4.1 million compared with last year's $3.7 million net result.
It expects the car market will remain flat, "with uncertain consumer confidence" and imports will continue at their current levels.
Turners' net profit for the six months ended June 30 rose to $1.94 million from $1.63 million in the same six months last year. Sales rose 6 per cent to $37.1 million.
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"This is a pleasing result, given the New Zealand used car market remains flat compared to last year and the Japan imported car market is down 7 per cent due to the new government [emissions] regulations," said chief executive Graham Roberts.
About 20 per cent of vehicles are now available for immediate purchase outside of auctions, it said.
Turners Finance loan book grew 4 per cent to $20.1 million in the six months while bad and doubtful debts fell 48 per cent.
Turners will pay a first-half dividend of 7c a share, up from 5c last year but the company also paid a 6c special dividend last year.
Turners shares closed up 7c yesterday at $1.73.