“Pendragon is leading the evolution of automotive online retailing. Our underlying profit before tax has increased by 7.6% in the year as our growth continues."
-Underlying profit before tax up 5.3 million (+8%), from 70.1 million to 75.4 million.
- Operating leverage continues, with gross profit up 1.9% and underlying operating profit up 1%.
- Underlying earnings per share up 0.2p (+5%), from 3.7p to 3.9p.
- Final dividend proposed of 0.75p per share, reflecting profit progression, an increase of 11.5% on the full year dividend.
-Our initiatives such as Move Me CloserTM, Sell Your Car and our aftersales progress update portal are leading the evolution of automotive online retailing.
-The Evanshalshaw.com and Stratstone.com websites have developed further during the year generating 22.7 million visits in the year, up +14.4% - with 66% of our visitors from self-generated rather than paid sources.
-Used vehicle revenue growth is a key strategic goal and revenues have grown by 64%in 5 years at a compound annual growth rate of 10.4%.
-Investment in additional physical capacity for used vehicle sales continues so that we can achieve at least double digit growth in used vehicle revenue in 2017.
-Our strategy is focused on our four ‘pillars’ of Choice, Value, Customer Service and Convenience supported by our people and protected by ownership of our evolving intellectual property and IT.
-Pinewood (the Group’s IT and Software division) established its first European customer user base and increased operating profit by +14.9%.
-Used vehicle revenue up +9.5% on a like for like basis (+5.6% total) as we continue to increase our market share.
-Aftersales revenue up +7.3% on a like for like basis (+4.1% total) as a result of market tailwinds and our initiatives.
-New vehicle revenue up +3.1% on a like for like basis (-1.4% total).
-Underlying operating margin 2.2% - in line with the prior year.