February 2008
Preliminary Results to 31 December 2007
We have announced our preliminary results for the twelve months to 31 December 2007.
Highlights:
- Revenue £5.1 billion (2006 £5.1 billion)
- Profit before tax and exceptionals £34.8 million (2006 £69.4 million)
- Profit before tax £46.5 million (2006 £97.7 million)
- Basic earnings per share 6.5p (2006 10.7p)
- Total dividend 4.0p (2006 3.45p)
- Cash generated from operations £160.0 million (2006 £219.4 million)
Statement from Trevor Finn, Chief Executive:
“As interest rates rose last year the car market became progressively more competitive putting pressure on used car margins. We acted early, closing poorly performing sites and, as a result, are better placed to face the challenges in what remains an uncertain market in 2008.”
View Full Report
August 2007
Pendragon PLC Interim Results for 2007
We have announced the interim results for the six months to 30 June 2007.
Highlights:
- Revenue of £2,702 million (2006: £2,625 million)
- Profit before tax & exceptionals £32.7 million (2006: £43.0 million)
- Profit before tax £33.5 million (2006: £51.5 million)
- Underlying operating margin 2.3% (2006: 2.8%)
- Adjusted earnings per share 3.5 pence (2006: 4.7 pence)
- Gearing 86% (December 2006: 121%)
- Strong operating cash inflow of £128.7 million (2006: £157.7 million)
- Dividend up 38% to 2.00p (2006: 1.45p)
Statement from Trevor Finn, Chief Executive:
“The UK motor retail sector has faced a challenging time this year, and as previously announced this has affected our results for the six months. Throughout the period we have remained focused on scale efficiencies and cash management as we reduce our debt levels following the acquisition of Reg Vardy last year.
These conditions offer a market leader like Pendragon many attractive growth opportunities, such as the acquisition of the 19 dealerships announced last week. We expect to identify further opportunities as smaller competitors seek to exit the market.”
February 2007
Pendragon PLC Final Year Results for 2006
We have announced our preliminary results for the twelve months to 31 December 2006.
Highlights:
- Turnover £5.1 billion (2005 £3.3 billion)
- Underlying profits up 15% to £68.1 million (2005 £59.3 million)
- Profit before tax up 51% to £96.4 million (2005 £63.8 million)
- Basic earnings per share up 53% to 10.7p (2005 7.0p)
- Total dividend up 30.7% to 3.45p (2005 2.64p)
- Strong operating cash inflow of £219.4 million (2005 £130.4 million)
- Reg Vardy integration completed
Statement from Trevor Finn, Chief Executive:
"Pendragon has delivered another solid financial performance in 2006. The highlight for the year was the acquisition and integration of Reg Vardy - the acquisition almost doubled our revenues and makes us clear market leader in what remains a very fragmented market.
We were able to repay a substantial amount of the money we borrowed to finance the Vardy acquisition and go into 2007 in good shape and with confidence that we will achieve our objectives for the year."
September 2006
Pendragon PLC Investor in People accredited
We are pleased to announce that Pendragon PLC has been awarded the coveted Investor in People Award for the third time running. Pendragon was first recognised as an Investor in People organisation in August 1998. At that time the Company consisted of approximately 250 members operating from two sites in Derby. Throughout the period 1998 until 2006 the Pendragon Leadership team has continued to deploy the support mechanisms required to maintain the company vision and core values as well as underpin the dramatic growth.
The re-assessment process was carried out by independent assessors. These assessors found a number of areas where Pendragon PLC exceeded the current standard for good practice. They concluded that Pendragon continues to fully comply with the current standard and the group has been re-recognised for a further three years.