18 Aug 2011

Half year profit up for Turners Auctions

8:50 pm on 18 August 2011

Turners Auctions has boosted its half year profit, despite a large fall in imports from quake damaged Japan.

The car auction company made $1.6 million in the six months to the end of June - 12% more than in the same period last year.

But revenue fell more than 3%, to $34.9 million.

Chief executive Graham Roberts says the used car business remains challenging because of fewer imports from Japan, and reduced public demand.

Turners Auctions declared an interim dividend of 5 cents per share, and a special dividend of 6c per share.