17th Feb 2015 07:34
LONDON (Alliance News) - Pendragon PLC on Tuesday reported a jump in 2014 pretax profit and a doubling of its dividend as it reported a a rise in car sales over the year.
The car dealership said its pretax profit for the year to the end of December rose to GBP64.6 million, nearly double the GBP38.9 million reported a year earlier.
Revenue for the year was up to GBP4 billion from GBP3.85 billion last year, boosted by a GBP8.1% rise in used-car revenue, a 4.3% rise in new car revenue and a 3.6% rise in after-sales revenue.
The strong performance pushed the group to double its proposed final dividend to 0.6 pence per share, bringing its total dividend for the year up to 0.9 pence per share.
"We are confident that 2015 will be another year of good performance, with Group performance in line with current expectations for the year," said Pendragon Chief Executive Trevor Finn.
By Sam Unsted; [email protected]; @SamUAtAlliance
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