Pendragon (PDG)

Sector:

Retailers

Index:

FTSE Small Cap

12.78p
   
  • Change Today:
      0.24p
  • 52 Week High: 28.45
  • 52 Week Low: 9.00
  • Currency: UK Pounds
  • Shares Issued: 1,396.94m
  • Volume: 36,459
  • Market Cap: £178.53m
  • RiskGrade: 232

Pendragon profit rises but revenue declines in Q3

By Michele Maatouk

Date: Tuesday 22 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Car dealership Pendragon posted a rise in third-quarter profit but a decline in revenue on Tuesday as revenue from used car sales slumped.
In the period from 1 July to 30 September, the operator of Evans Halshaw and Stratstone saw underlying pre-tax profit rise to £3m from £1.1m in the same period a year ago thanks to a combination of "better momentum during September, improved processes and good control of cost".

However, total revenue was down 8% and like-for-like revenue fell 3.6% as used car revenue dropped 19.6% on a total basis and 16.7% on an LFL basis.

Total revenue from new car sales was 4.5% higher and 11% firmer on an LFL basis, while aftersales revenue was down 4% on a total basis and 0.7% higher on a LFL basis.

Pendragon said overall sales volumes were lower as it focussed on rebuilding both the quantity and quality of the age-profile of the stock during the period, as highlighted in September.

"Whilst the improved performance during the period is encouraging, we continue to expect economic and market conditions to be challenging, with the ongoing uncertainty around Brexit impacting consumer confidence. The full-year underlying loss before tax remains in line with the board's expectations," it said.

Berenberg said the used car segment has been "the bane of the year" for Pendragon, given the sizeable margin compression in the business in recent periods as a result of de-stocking older and pre-registered stock.

"Most of this has now happened and the business has achieved a marked improvement in margins month by month over the quarter. Specifically, gross margins have risen from 5.9% in July to 7.3% in August to 8.4% in September. With margins now back to normal used levels, we envisage that profitability can return here. With the problem car stores now shut, the company will benefit from the cost savings associated in upcoming periods."

At 1050 BST, the shares were up 1.8% at 11.81p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Pendragon Market Data

Currency UK Pounds
Share Price 12.78p
Change Today 0.24p
% Change 1.91 %
52 Week High 28.45
52 Week Low 9.00
Volume 36,459
Shares Issued 1,396.94m
Market Cap £178.53m
RiskGrade 232

Pendragon Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
89.23% above the market average89.23% above the market average89.23% above the market average89.23% above the market average89.23% above the market average
67.35% above the sector average67.35% above the sector average67.35% above the sector average67.35% above the sector average67.35% above the sector average
Price Trend
45.06% below the market average45.06% below the market average45.06% below the market average45.06% below the market average45.06% below the market average
29.63% below the sector average29.63% below the sector average29.63% below the sector average29.63% below the sector average29.63% below the sector average
Income
52.67% above the market average52.67% above the market average52.67% above the market average52.67% above the market average52.67% above the market average
26.32% above the sector average26.32% above the sector average26.32% above the sector average26.32% above the sector average26.32% above the sector average
Growth
85.26% below the market average85.26% below the market average85.26% below the market average85.26% below the market average85.26% below the market average
59.26% below the sector average59.26% below the sector average59.26% below the sector average59.26% below the sector average59.26% below the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 2
Sell 0
Strong Sell 1
Total 3
sell
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Pendragon Dividends

  Latest Previous
  Final Interim
Ex-Div 18-Apr-19 20-Sep-18
Paid 30-May-19 23-Oct-18
Amount 0.70p 0.80p

Trades for 21-Feb-2020

Time Volume / Share Price
16:35 18,064 @ 12.78p
15:48 2,118 @ 12.59p
14:32 7,925 @ 12.56p
12:49 4,000 @ 12.61p
08:33 4,302 @ 12.58p

Pendragon Key Personnel

COO Martin Shaun Casha
CFO Mark Simon Willis
CEO William Berman

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