26th Jun 2009 12:01
26 June 2009
Annual General Meeting Statement
Pendragon PLC ("Pendragon") held its Annual General Meeting at 11.30am today, where the following statement was made by Sir Nigel Rudd, Chairman:-
"Overall, the UK market for new vehicle sales has been in line with our expectations for the first five months of the year. We anticipated, and have seen, a gradual return to more normal markets for used car sales and our after sales business continues to perform satisfactorily.
We have ensured that our cost base is kept in line with activity levels in order to deliver planned cost savings this year. We have also continued to improve our working capital management routines and maintain focus on cash generation.
We anticipate that the UK market will remain challenging for the remainder of the year and our expectations relating to the overall performance of the Group remain unchanged.
The interim results of the Group will be announced on 18 August 2009".
Pendragon is also pleased to announce that all of the resolutions set out in the Notice of Annual General Meeting dated 26 May 2009 were duly passed at the Annual General Meeting held today.
Enquiries:
Pendragon PLC: Trevor Finn, Chief Executive Tel: 01623 725114
David Forsyth, Finance Director
Finsbury: Rollo Head/Gordon Simpson Tel: 0207 2513801
26 June 2009
-ENDS-
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