BCA Marketplace has rejected a £1.61bn takeover offer from London-based private equity firm Apax Partners.
Lookers highlighted the “resilience and diversity” of its business model as it outperformed the market with a 4% downturn in new car revenues but growth from used cars and aftersales.
Marshall Motor Holdings has reported a 19.5% increase in turnover and a 14.4% rise in underlying profit before tax in a set of annual financial results hailed as “excellent” by chief executive Daksh Gupta.
Big Cars has ceased trading with immediate effect, closing the doors of its used car dealerships and laying off staff a decade after it was founded by entrepreneur Adam Stott.
Marshall Motor Holdings has reported 2017 financial performance ahead of its “previously upgraded pre and post-tax expectations” in a statement issued by the London Stock Exchange.
Pendragon will dispose of its US-based retail group and begin the reduction of its premium franchises in the UK as part of a revised business strategy.
Marshall Motor Holding has completed the disposal of its wholly-owned leasing division to Northridge Finance for a gross cash consideration of £42.5 million.
Lookers has reported new car margins and profit per unit for both new retail and fleet cars were higher year-on-year in a trading update on the year to September 30.
Pendragon chairman Mel Egglenton has stepped down from his position as the PLC issued its forecast of falling profits in 2017.
Pendragon is set to review and restructure its franchised dealer operations after issuing a profit warning to the London Stock Exchange.
Big Cars has been placed in the London Stock Exchange annual list of 1,000 companies to inspire Britain for a third time.
Online finance broker Zuto has been identified as one of London Stock Exchange Group’s 1000 Companies to Inspire Britain.
Lookers has reported 30% growth in used car turnover during a “buoyant” Q1 which saw retail volumes and rising profit across the board.
Pendragon chief executive Trevor Finn has been awarded a further 2.4 million shares in the business under the Company’s Long Term Incentive Plan.
Uncertainty around the result of the EU referendum has led car supermarket group Motorpoint to sacrifice some margin to maintain its good level of stock turn.
Peter Johnson, non-executive chairman of Marshall Motor Holdings, has invested a further £37,500 in shares in the publicly listed dealer group.
Motorpoint is expected to raise £100m in a float of shares priced at 200p per share – with conditional trading now underway.
Motorpoint could be poised for a £240 million stock market float as soon as the end of the week.
Inchcape plc has appointed Rachel Empey as a non-executive director within the business’s audit and nominations committees.
Car dealer Progress has been included in the London Stock Exchange’s latest report of 1,000 companies to inspire Britain.
Automotive Management Live: Where franchised and independent dealers will find everything they need to know about operating a modern showroom and service and repair facility fit for the digital age.
When: November 12 2020
Where: Birmingham NEC
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