Share Name Share Symbol Market Type
Pendragon Ord GBP0.05 NEX:PDG.GB NEX Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 21.40p 19.90p 22.90p - - - 0 01:00:00


17/04/2019 7:00am

UK Regulatory (RNS & others)

Pendragon Ord GBP0.05 (NEX:PDG.GB)
Historical Stock Chart

1 Month : From Mar 2019 to Apr 2019

Click Here for more Pendragon Ord GBP0.05 Charts.


RNS Number : 4143W

Pendragon PLC

17 April 2019


This Interim Management Statement for Pendragon PLC covers the three-month period from 1 January 2019 to 31 March 2019. Unless otherwise stated, figures quoted in this statement are for the three months ended 31 March 2019.

Trading Update

   --    Group Revenue +4.6% L4L (+1.2% total) 
   --    New Revenue +6.3% L4L (+2.6% total) 
   --    Used Revenue +2.9% L4L (-0.2% total) 
   --    Aftersales Revenue +5.5% L4L (+2.0% total) 
   --    New Gross Profit -5.4% L4L (-9.1% total) 
   --    Used Gross Profit -1.6% L4L (-1.6% total) 
   --    Aftersales Gross Profit -5.0% L4L (-9.0% total) 
   --    Operating Costs +6.2% L4L (+3.3% total) 

Total Group revenue grew by 1.2% in the period, with like-for-like growth of 4.6%. Group like-for-like new revenue growth of 6.3% in the quarter compared to a decline in registrations in the overall new car market, of 2.4% vs the prior year. However, challenging trading conditions during the period resulted in a reduction in margins in new, used and aftersales, leading to a 5.4% fall in the like-for-like new gross profit, a 1.6% fall in the like-for-like used gross profit and a 5.0% fall in the like-for-like aftersales gross profit. This performance, combined with both a higher level of operating costs and increased losses within Car Store, arising from the ongoing development and maturation of the business (FY19 Q1: 34 stores, FY18 Q1: 26 stores), resulted in an underlying loss before tax of GBP2.8m. This is around GBP10m lower than our expectations for the period, comprised of c.GBP7m from the net impact of higher revenue and lower margins, c.GBP2m of additional operating costs and c.GBP1m from the lower than expected Car Store performance.

Operational and Financial Review

In light of this trading update and given the recent appointments to the business of both Mark Herbert (Chief Executive Officer) and Mark Willis (Chief Financial Officer), a review of the operational and financial prospects of the Group is currently being undertaken. The results of this review will be communicated to the market during June. In addition, a strategic update will be provided with the Interim results.

 Howard Lee         Headland     0203 8054822 
 Henry Wallers      Headland     0203 8054822 
===============  ============  ============== 

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) No 596/2014

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit



(END) Dow Jones Newswires

April 17, 2019 02:00 ET (06:00 GMT)

1 Year Pendragon Ord GBP0.05 Chart

1 Year Pendragon Ord GBP0.05 Chart

1 Month Pendragon Ord GBP0.05 Chart

1 Month Pendragon Ord GBP0.05 Chart
Your Recent History
Pendragon ..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20190421 02:40:33