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Annual Results

Pendragon hikes FY pretax profit

16 February 2016 07:41

Pendragon has hiked its FY pretax profit to GBP79.0m, from GBP64.6m. Revenue was GBP4.45bn, from GBP4.0bn. Dividend was 1.3p a share, from 0.9p.

CEO Trevor Finn commented:

"We achieved strong growth and set new records as we continue to deliver our winning strategy of offering Choice, Value, Service and Convenience to our customers.

"We are particularly pleased with our performance, where like for like used vehicle gross profit improved by over 20 percent. This outstanding performance is due to our focused strategy, strong processes and the evolution of our brands, helped by the launch of 'Move Me Closer' and 'Sell Your Car'.

"We are looking forward to growing the business further from organic activity and selective acquisitions. We continued to benefit from new car products, particularly in the vehicle ranges. ... Our prospects for 2016 are in line with current expectations."

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