Business
Pendragon Trading Update
Pendragon Trading Update.
About this update from Pinewood Technologies Group Plc
[{"type":"text","content":"\n \nRNS Number : 2153B Pendragon PLC 29 January 2020 \n\n \nPENDRAGON PLC TRADING UPDATE \n(ISSUED 29 Jan 2020)\n \nTrading Update for the financial year ended 31 December 2019.\n \nThe Group's performance improved significantly during the second half of FY19, despite challenging market conditions and weakened consumer demand in the run up to the General Election in the UK. The period benefitted from the actions taken by management to re-set performance, as outlined at the Group's interim results, which included the closure of 22 underperforming Car Store locations, better management of used vehicle inventory and a clear focus on operational cost management. \n \nCar Store, Leasing, Pinewood and US Motor divisions all performed in line with expectations, with the challenging consumer environment in the final quarter of the year principally impacting the Franchised UK Motor division.\n \nAccordingly, the Group's underlying profit before tax for FY19 is expected to be around the bottom end of current expectations. However, the Board remains confident that the improvement in performance during the second-half puts the business on a much stronger footing as we enter 2020. \n \nPendragon intends to issue its results for the financial year ended 31 December 2019 on 18 March 2020.\n \n\n\n\n Enquiries\n\n\n\n\n\n\n\n\n\n\n Henry Wallers\n\n\nHeadland\n\n\n0203 8054822\n\n\n\n\n Jack Gault\n\n\nHeadland\n\n\n0203 8054822\n\n\n\n \n \n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com. END TSTFZGZMNRDGGZM\n ","length":3824,"tagName":"div"}]