Profit boost for Turners Auctions TURNERS Auctions, the auction house which counts Dorchester Pacific as a cornerstone investor, lifted first-half profit 10 per cent on gains in its fleet and finance units. It forecasts a flat annual result having previously warned it faced a tough year after losing a major contract. Net profit rose to $NZ2.1 million ($A1.87 million) in the six months ended June 30, from $NZ1.9m a year earlier, the Auckland-based company said. Sales rose 13 per cent to $NZ41.8m. Annual profit will likely be in line with 2012's $NZ4.2m result, as the auction house counters the loss of a contract with Insurance Australia Group to sell damaged vehicles. The IAG contract accounted for about 15 per cent of Turners' bottom line. "The business has made good progress in the first half on implementing a multi-channel sales strategy," the company said. Cost management will continue to be a focus along with securing alternate sources of stock.