15th Apr 2005 10:55
Pendragon PLC15 April 2005 AGM STATEMENT Pendragon PLC, the UK's largest car dealership group, today held its AnnualGeneral Meeting. The Chairman, Sir Nigel Rudd, made the following statement: "In 2004 Pendragon achieved underlying profit growth of nearly 60 per cent andat the same time integrated the CD Bramall business which was acquired in Marchlast year. This year has seen a more demanding new car market in the first threemonths. UK new car registrations are down by 7.2% year on year with the SMMTpredicting a full year reduction of 3.4% against 2004. We are maintaining thecautious outlook on trading for the remainder of the year which we expressed atthe time of our preliminary results in February. MG Rover Group is currently in administration and we wait to hear what the finaloutcome will be for the car manufacturer. We operate 15 MG Rover sales points.At this stage we anticipate only a minor impact on the group's net assets as aresult of the situation at Rover. Pendragon has a strong underlying business which has traded in line withexpectations in the first three months of the year." Enquiries:Pendragon PLC Trevor Finn, Chief Executive Tel: 01623 725114 David Forsyth, Finance Director Finsbury Charlotte Hepburne-Scott Tel: 0207 2513801 Gordon Simpson This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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