25th Oct 2016 06:43
LONDON (Alliance News) - Car retailer Pendragon PLC on Tuesday said it remains on track to meet its expectations for 2016, as revenue and gross profit rose across its operations in the third quarter from a year before.
In the quarter to the end of September, Pendragon reported like-for-like revenue growth of 5.7%, boosted by 8.3% like-for-like growth in used vehicle sales.
Gross profit for the business increased across the board on a like-for-like basis. Aftersales gross profit rose 3.2%, new car gross profit was up 4.2% and used car gross profit increased 0.5%. Total underlying like-for-like pretax profit for the quarter was up 6.3% year-on-year, Pendragon said.
Pendragon said it has still not seen any major impact on its business from the UK's vote to leave the European Union and remains on track to meet its expectations for 2016 as a whole.
By Sam Unsted; [email protected]; @SamUAtAlliance
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