Turners Auctions' chief executive admits the car sales company will have to work hard to ensure it posts an annual result close to last year's $4.2 million profit.
Turners lost a major contract with IAG last year and the loss was expected to hit the company's profits by 15% this financial year.
The company has been trying to build up its finance and fleet operations to make up for the loss of the contract.
So far it has managed to do that. In the six months to June, Turners Auctions increased its half-year after tax profit by 10% to $2 million.
Turners chief executive Todd Hunter says the loss of the IAG contract will be particularly felt in the second half, but the company has plans to boost other parts of the business to make up for it.
He says the company plans to extend its 'cash now service' in which Turners offers people who want certainty and speed a cash price for their vehicle.
Mr Hunter says one strategy is to extend that offer to owners of broken down, unwarrantable cars.
He says Turners will also continue to focus on cost and its finance business.
Turners will pay a dividend of 7 cents a share.
