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Pendragon PLC (the "Group") today provides a trading update and increases underlying profit before tax guidance for the full year to 31 December 2021 to a range of approximately £55m to £60m.
A strong close to June, combined with continued momentum in the used car market throughout July, with industry wide supply constraints leading to exceptional gross profits per unit together with good levels of demand driving further outperformance against the Board's expectations. The Group was able to maximise its used car performance during July by maintaining good levels of used car stock availability in a constrained market demonstrating the benefits of its broad range of vehicle sourcing channels.
RNS out
10x more buys v sells
Up nearly 10%
Swanny27 can you compare Cinch with Pinewood I thought they were totally different?
Hi Kev keep em peeled!
The only news we hear about this company is indulgences in remuneration for the Directors and promised land results which never materialise...maybe the Chairman ought to sit down with the CEO and devise a coherent plan....oh that's not possible because the Chairman and the CEO is one and the same man !
Pinewood, it has multiples of the cars of say Cinch which is valued at multiples of Pendragon.
One day realisation will come on the overvaluation of the techies, and undervaluation of the likes of Pendragon and we should meet in the middle.
How long before that happens?
Hope so, but I have high hopes of multiples of this when the online system is fully separate and developed.
Can we finally break 20.00 today?
19.75 ask
Chunky buying and a near 5% rise, 20.00 broken soon hopefully.
Who can make head or tail of what went on today. $100m sells then reversed, a stack of 18k and 2k buys, then a few 5m sells.?
Anyway it went up a bit!
Over 50 times more buys v sells and only a 2% rise.
Let’s see some decent upward movement here
RNS OUT
Sea of blue, I hope we get back over 20.00 as this share seems stagnant at the moment.
"At Risk" = The jobs are gone. The decisions been made, it always is regardless whether its a proposal to the last second. PDG have never gotten out of this whole centralisation to Nottingham. It didn't work well 15 years ago, it still doesn't work well.
Got to feel for these accountants, The ones that do get a Jon will get three times the work and no doubt all the new roles the salaries etc have been cut.
How Mr Casha has survived all this time is beyond me, he and Trevor IMHO ruined the businesses they bought.
Got to find the cash for their pay rises somehow..
Pendragon puts 250 jobs at risk just weeks after bumper new pay deal agreed for boss
Pendragon places 250 of its 400 accountants in redundancy consultation
Mail on Sunday reports firm will replace jobs with new centralised roles at its Nottingham HQ
Decision comes weeks after bumper new pay deal was agreed for bosses
Looks like the tide is finally turning here.
By Comparison ......Marshall Motor Group promises to repay furlough and retail rates cash for 2021 as it reveals buoyant first quarter results....based on having a coherent plan executing that plan recognising its workforce and maintaining its position as a company who truly cares
Marshall first dealer group to pledge to repay some furlough and rates cash
All support received in 2021 will be repaid to the government
Ahead of its AGM it reveals impressive results for lockdown-hit first quarter
AGM Tomorrow.... when we find out if the CEO and the Chairman of the remuneration Committee get voted out on the basis of their outrageous and disgraceful pay proposals for themselves...How can 1800 redundancies and £50M in Government financial support justify such a proposal...This man is more scandalous than his predecessor Finn!
Anyone know when we are due any updates here.