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Pendragon pre-tax profits up 58%

Pendragon, the UK’s largest franchise dealer group, today reported profit before tax for 2004 was up 58% to £60.5m.

Pendragon’s pre-tax profit rose 47% over 2003 to £65m. Sales nearly doubled to £3.2bn with the integration of CD Bramall plc, which Pendragon acquired early last year.

Chief executive Trevor Finn advised shareholders that the group was treating the trading prospects for the coming year with caution, but expected to end the year with a further reduction of debt, and promised the introduction of a new IT platform to many of the group’s franchised outlets.

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