HR Owen’s annual financial results for 2018/19 have revealed that the London-based supercar and luxury car retailer has delivered a four-fold increase in pre-tax profits in the three years since its acquisition by the Malaysian Berjaya Group.
Pendragon needs to refocus its Car Store used car supermarket strategy as it seeks out “self-help opportunities” in light of an operational business review which predicted that the group would make a significant loss in H1, 2019.
Caffyns has blamed a 3.1% decline in turnover in its 2018 financial results on WLTP’s impact on the supply of vehicles from certain car manufacturer brands - with Audi “significantly constrained” by the new regime.
JCT600 is celebrating a record set of annual financial results for 2018 after the car retail group’s turnover rose 2% to £1.28 billion and profits held flat in what was described as a “challenging year”.
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’.
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