Pendragon’s new leadership team is conducting review of the car retail group’s operational and financial prospects as an interim management statement revealed Q1 pre-taxes losses which were ‘lower than expected’.
Motorpoint Group has said that it expects to report a 6% increase in revenues and a 10% increase in underlying profit before tax in its forthcoming annual financial results to March 31, 2019.
The Trade Centre Group has published a record set of annual results detailing a 44% rise in turnover to over £250m and record profits during a year of expansion in 2018.
Pendragon’s profit before tax total slipped to a £44.4m loss in 2018 as revenues declined by 2.4% to £4.63bn in its annual results to December 31, 2018.
Vertu Motors chief executive Robert Forrester has said that the group is “well positioned to take full advantage of tougher markets” in a trading update for the AM100 car retail group.
Inchcape’s growing profitability from global vehicle distribution were offset by a challenging retail sector during 2018 – with revenues up 3.6% but underlying profit before tax down by 6.5%.
PSA Group’s first full year results since its acquisition of Opel Vauxhall show a €1.7 billion (£1.46bn) increase in recurring operating profit.
Stoneacre Motor Group has reported turnover growth of 9% and profit before tax up 34% in its financial results for 2018.
Arnold Clark has completed the acquisition of Phoenix Car Company, with the transfer of assets and staff from the Paisley-based car retailer to take place on January 31.
BCA Marketplace has “exceeded expectations” with a set of interim results which revealed an increase in UK remarketing revenues of 23.5% during the sixth month period to September 30.
Motorpoint’s latest interim financial results have shown that the used car supermarket group generated 9.4% revenue growth in the six months to September 30.
Cambria Automobiles has recorded a 2.2% decline in revenues and 19.7% drop in profit before tax as an overhaul of its franchise representation led to “significant disruption” in its financial year to August 31.
Aston Martin has reported an 899% year-on-year increase in profits during Q3 as it doubled production output in its first set of financial results since its IPO last month.
Marshall Motor Holdings said its full year 2018 profits are still expected to beat its record last year, despite the industry issues caused by WLTP.
Auto Trader has reported a 7% increase in revenues and a 10% rise in operating profits in its half-year financial results for the six months to September 30.
Lookers has reported growth in its used car and aftersales operations as new car volumes and turnover declined in-line with the market during the period to September 30.
Pendragon has projected full-year financial results delivering a further 17.2% decline in underlying profit before tax in an interim management statement revealing declines in turnover and profit during Q3.
Vantage Motor Group has reported a return to profitability in its annual financial results following the sale of ‘unprofitable businesses’.
Pendragon share prices fell by over 21% as markets opened this morning as the AM100 franchise car retailer issued a fresh profit warning.
Peoples' chairman Brian Gilda has warned of Brexit “Armageddon” for the UK’s automotive sector after the Scottish retail group negotiated “fierce competition and diminishing volumes” to realise a £274.4 million turnover.