Dealers to take on Three Peaks challenge for BEN

Dealers to take on Three Peaks challenge for BEN

27/04/2012 in News, All News, Dealer News

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Dealers to take on Three Peaks challenge for BEN

Teams from Pendragon and Inchcape will take on the Three Peaks 24 hour challenge on June 16 and 22 respectively to raise money for BEN, the automotive charity.

Inchcape has put together eight teams, representing each of its brands, a team of retail support staff and a team comprised of volunteers from across all brands who will climb as part of the CEO team. Inchcape hopes to raise £10,000 for BEN.

Pendragon has put together a team from Porsche Centre Wilmslow called the “The Stratstone Porsche Pie-oneers” consisting of sales executives Dean Robinson, Gavin Bailey and Stuart ‘The Driver’. When asked about the team name, Robinson said: “We are going under the name of The Stratstone Porsche Pie-oneers because we were more likely to be eating Pies than pioneering mountains.”

The Three Peaks Challenge takes on the highest mountains in Scotland, England and Wales and covers 40kms, involves climbing 3,400m and traveling more than 556 miles between the locations.

The challenge begins in one of Scotland’s most scenic areas: Glen Nevis Valley, where the teams will climb Ben Nevis, the largest mountain in the UK, standing at 1,344m. Scafell Pike, the highest mountain in England standing at 978m is the second peak and finally the challengers take on the highest mountain in Wales: Snowdon, standing at 1,085m.

Kerry Howard, Inchcape’s head of internal communications, said: “Following the success of our fleet division completing the Three Peaks last year, we thought we would make the challenge bigger with the CEO setting a challenge across the UK business, raising vital funds for BEN, the automotive industry charity.

“As a result, we now have 100 members of staff who have signed up to complete the challenge on June 22, 2012. Each team is now in training and the competition is fierce.”

Kelly Neal, Events Manager said, “BEN appreciates the efforts people go to in their attempts to raise funds for the automotive industry charity. Completing the Three Peaks Challenge will be a great achievement – we wish the teams Inchcape and Pendragon the best of luck.”

You can support Inchcape here

You can support the Stratstone Porsche Pie-oneers here.


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Pendragon

Pendragon plc is the largest independent operator of franchised motor car dealerships in the UK with a turnover of in excess of £3 billion tops the AM100.

Pendragon sells a broad range of makes of motor cars and commercial vehicles. It also has a substantial presence in the UK vehicle leasing, wholesale parts and dealer management software markets.

Pendragon became a public limited company when the vehicle division of Williams plc was de-merged in 1989, at that time operating 19 car dealerships, representing specialist and luxury franchises, in addition to a small contract hire business.

It now represents more 20 brands operating out of over 300 outlets in the UK and in California, USA.

Covering both specialist and volume brands our largest representation is with Ford and is closely followed by Vauxhall where we are the largest retailer in the UK.

The group’s specialist marques range from Maserati to Mercedes-Benz, Pendragon is the largest franchised dealer for Harley Davidson outside of the USA. It also runs the Evans Halshaw (volume brands) and Stratstone (premium brands).

Chatfields is Pendragon’s commercial van and truck business.

The focus of the business, led by Trevor Finn, is now on “bigger relationships with fewer manufacturers”. He said in February 2012: “The future will see us consolidating and remaining at the forefront of our industry.”

For many years Pendragon has been cutting back sites and staff numbers as it strives to reduce its debts and tackle its pension deficit.

In 2011 it announced a rights issue aimed at raising £70 million. It has secured new credit facilities with bankers until June 2014 conditional on the £70m being used to tackle debts.

In its 2013 full-year financials turnover was up from £3.6 billion to £3.9bn year-on-year, with profit before tax at £44.2m compared to £36.4m. Gearing reduced from 79% to 46%, net debt from £216.4m to £139.6m.

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Inchcape Retail

Part of a global automotive group, Inchcape Retail is one of the UK’s largest groups holding franchises for Audi, BMW, Ford, Jaguar, Land Rover, Lexus, Mercedes-Benz, Mini, Porsche, Smart, Toyota and Volkswagen.

It’s stated vision is to be “the world’s most customer-centric automotive retail group” around its Inchcape Advantage programme and based on a scale retail business with these premium brand partners, together with a fleet leasing operation.

Strategy is based on five priorities: growing market share, growing aftersales, improving margin, controlling working capital and selective capital expenditure investment.

Inchcape’s full-year 2011 pre-tax profit improved 5.9% to £203.4 million from £192.1 million, and pre-tax profit before exceptional items grew to £227.7 million from the prior year's £214.0 million.

In July 2012, Inchcape announced its UK business had grown half-year operating profits by 4.8% against the first half of 2011, despite revenues remaining flat at £1.085bn.

On taking out its Inchcape Fleet Solutions division, like for like sales at its Inchcape Retail dealer group actually rose by 3% to £1.064bn in the period, and its trading margin improved from 3% to 3.2%, a record for the business. The trading profit rose 4.3% to £33.8m.

Inchcape said the group has gained market share and revenue growth was driven by strong new product launches including the Audi A1 Sportback, Audi Q3, BMW 3 series and 6 series GT, Mercedes-Benz B Class, Lexus GS, the MINI Roadster, the new Porsche Boxster and 911, the Toyota Yaris Hybrid, the VW Beetle, Passat Coupe and Up.

It reported double-digit growth in its UK revenues in the third quarter of 2013.

In an interim trading statement Inchcape said it achieved like for like revenue growth of 13.4% in Q3 as it benefited from new car market growth and the strength of its franchise portfolio in premium and luxury segments against a backdrop of margin pressure on vehicles.

Inchcape operates in core regions of the South East, Midlands, North and North East of England with 128 retail centres.

Each of its car dealerships has specially trained sales staff for retail, fleet and business vehicle sales, together with manufacturer trained staff to help with parts and service requirements.

The distribution element of our results is made up of our fleet leasing business, Inchcape Fleet Solutions (IFS), which offers fleet management and leasing services to corporate and Government customers. With over 50 years’ experience in the automotive industry, IFS has a combined fleet size of approximately 41,000 vehicles.

Inchcape is based in London and employs around 13,900 people. It has been listed on the London Stock Exchange since 1958.

Please note: Data for this business is limited to information provided voluntarily from time to time by the business on request, or is derived from data disclosed in the accounts of a larger entity of which this business is a part.

Read more

Turnover

turnover

Profit before tax

profit guide

Gearing

gearing guide

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