8th May 2015 07:04
LONDON (Alliance News) - Car retailer Pendragon PLC Friday said its underlying pretax profit rose in the first quarter, with good performances across its new and used car sales arm and in its aftersales business.
Pendragon said its underlying pretax profit in the three months to the end of March rose GBP10.4%, with operating profit up by 8.5%.
Gross profit in its new cars division was up 9.9% on a like-for-like basis, boosted by strong margin and volume improvement, while gross profit in used cars rose by 2.9% on the back of like-for-like revenue growth of 8.4%. Aftersales gross profit was up 3.6% on a like-for-like basis, benefiting from good market conditions and service improvements.
Online visits to the Stratstone.com, Evanshalshaw.com and Quicks.co.uk sites rose by 25.6% in the quarter, with Pendragon saying its shares of the online retail dealer market doubling over five years to make it the biggest player in the sector at the end of March.
Trevor Finn, Pendragon's chief executive, said the performance was in line with its expectations.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
PDG.L