Half Year Results for 30 June 2022
21st Sep 2022
Strong first half performance, underpinned by continued strategic progress.
- Underlying profit before tax of £33.5m (HY21: £35.1m)
- Improved gross margin performance underpinned by higher gross profits per unit in both new and used vehicles
- CarStore.com brand relaunch completed in May 2022
- Discussions with new energy car manufacturer, BYD, to be UK Launch partner at advanced stage
Bill Berman, Chief Executive Officer, said:
“We have made a really encouraging start to the year which is reflected in a strong set of financial results and continued momentum across the business. Good progress has again been made in the delivery of our strategy, including the brand relaunch of our used car business and multiple technology releases by Pinewood. We have transformed our digital capabilities over the past two years and this, combined with significant improvements to our operations, means we are well placed to offer our customers the best possible experience.
“We have delivered these results in the face of challenging trading conditions in our sector due to supply constraints on both new and used vehicles and the impacts of inflationary pressures. We expect the environment to remain challenging in the second half of the year, however we take confidence from how we have performed in the last six months and expect to make further positive progress towards our long-term goals this year.”
The full statement and results presentation can be downloaded below.
Downloads
Enquiries
Jefferies International Limited (Financial Adviser & Joint Corporate Broker) +44 20 7029 8000
- Philip Noblet
- Simon Hardy
- James Thomlinson
- Thomas Bective
Berenberg (Joint Corporate Broker) +44 20 3207 7800
- Ben Wright
Headland Consultancy (PR & Communications) +44 20 3805 4822
- Henry Wallers
- Jack Gault
Financial Announcements
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Pendragon PLC PUSU Extension
21 Nov 2022
-
Interim Management Statement - October 2022
25 Oct 2022
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Rule 2.11 - Letter to Shareholders
27 Sep 2022
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Rule 2.11 - Letter to Employees
27 Sep 2022
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Rule 2.11 - Letter to Pension Scheme Trustees
27 Sep 2022
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Receipt of Unsolicited Proposal
26 Sep 2022