Pendragon PLC Pendragon PLC Trading Update (9901G)
30 Julio 2021 - 1:00AM
UK Regulatory
TIDMPDG
RNS Number : 9901G
Pendragon PLC
30 July 2021
PENDRAGON PLC Trading Update
(ISSUED 30 July 2021)
Pendragon PLC (the "Group") today provides a trading update and
increases underlying profit before tax guidance for the full year
to 31 December 2021 to a range of approximately GBP55m to
GBP60m.
A strong close to June, combined with continued momentum in the
used car market throughout July, with industry wide supply
constraints leading to exceptional gross profits per unit together
with good levels of demand driving further outperformance against
the Board's expectations. The Group was able to maximise its used
car performance during July by maintaining good levels of used car
stock availability in a constrained market demonstrating the
benefits of its broad range of vehicle sourcing channels.
As at 30 June, the Group had a net cash balance of GBP9.5m
(HY20: net debt of GBP46.0m), with the reduction in net debt
supported by strong trading in the first-half and a continued focus
on cash management.
As outlined in the Group's previous update on 30 June, there
continues to be uncertainty resulting from potential further
disruption from Covid-19, the timing of an expected realignment of
used vehicle margins and supply constraints in both new and used
vehicles. As a result, there remains a range of possible outcomes
for the full year. Following the strong performance outlined above,
Group underlying profit before tax for FY21 is now expected to be
in a range of approximately GBP55m to GBP60m (FY20: GBP8.2m). The
Board continues to believe the Group's strategy positions it well
to respond to the ongoing market uncertainty and to capitalise on
any resultant opportunities.
Enquiries
===========
Henry Wallers Headland 07876 562436
Jack Gault Headland 07799 089357
=============== =========== ==============
This 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 rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTUKRRRAUUBUUR
(END) Dow Jones Newswires
July 30, 2021 02:00 ET (06:00 GMT)
Pendragon (LSE:PDG)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Pendragon (LSE:PDG)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024