Pendragon chief executive Bill Berman has said that an anticipated £33 million underlying first-half pre-tax profit will give the car retail PLC “good momentum” for H2 2022.
Early talks over a potential £200 million Saudi Arabian investment in British supercar maker Aston Martin are said to be underway after share prices dipped to a new record low.
Lookers has said that it will maintain its relentless focus on operational optimisation and cash management as “significant inflationary pressures” impact car retail sector’s trading performance.
Vertu Motors has said that it remains focused on the delivery of operational excellence around cost, conversion and customer experience as car retail’s headwinds deliver uncertain H2 outlook.
Inchcape’s global car distribution operations have driven its year-to-date financial performance to ‘exceed expectations’, a trading update has revealed.
Former Marshall Motor Group chief executive Daksh Gupta has said the “time is now right for me to explore new opportunities” following the announcement of his departure from the AM100 car retail group.
Marshall Motor Group has left his position as chief executive of Marshall Motor Group with immediate effect.
Vertu Motors has completed a £2 million share buy back transaction to boost its employee benefit trust” as chief executive Robert Forrester increased his own shareholding in the car retail PLC.
BCA and cinch owner Constellation Automotive Group has received the regulatory approvals required from the Financial Conduct Authority (FCA) to complete its acquisition of Marshall Motor Holdings.
Swedish car retailer Hedin Group could be lining up a second takeover bid for Pendragon after having an initial £400m offer rejected, it has been reported.
Inchape is pulling out of the Russian market as a result of the ongoing conflict in Ukraine.
Vertu Motors has revealed that its 2022 pre-tax profits will have risen by more than 200% in 2022 as it forecast a year-end total of “not less than £75 million” in a trading update issued this morning.
Cinch, BCA and Webuyanycar owner Constellation Group has followed up its move to acquire Marshall Motor Holdings with the purchase of a 19.9% stake in Lookers.
Lookers chief executive Mark Raban has revealed that car retail PLC expects to publish record annual profits after an “exceptional” 2021 trading performance.
Startline Motor Finance has completed a £292m London Stock Exchange-listed securitisation to fund growth and future-proof it with a move into electric vehicle (EV) funding.
Vertu Motors has deployed some of its “M&A firepower” to complete the £9.2 million acquisition of two-site Toyota franchised car retailer Farmer and Carlisle.
Marshall Motor Group’s board has highlighted the “responsibilities of ownership of MMH” in a statement recommending the acceptance of Constellation Automotive’ s £201.6 million takeover offer.
Pendragon has increased its profit expectations for 2021 by a further 14.3% after continued car buyer demand powered it to another profit upgrade.
Constellation Automotive’s £201.6 million offer for a 64.4% controlling stake in Marshall Motor Group has been described as a “done deal” after an ‘undertaking to accept’ was published via the London Stock Exchange.
Caffyns has revealed turnover up by 29.8% and a 62.3% rise in profit before tax in published results for the first half of its financial year.
