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The UK car market is very fragmented. PDG had approx 6% of market share in UK a year or two back, I believe, and they're the largest. Inchcape and Lookers are also on main market.
Just bought into this. Done my research and the company seems solid financially wise with good potential growth. Just wondering though, how much of the Market have they got, and who are there major competitors?
This another which today shows ask and bid as higher than the mid.. Hence to large drop...
Lets hope most were sold by Pendragon!! Verdu figures were excellent today also...
Good news - http://www.smmt.co.uk/2014/05/april-new-car-registrations-2014/
continued... 1.0 to 1.5 times. At 31 December 2013 our debt : underlying EBITDA ratio was 1.2 times. The target range has been set in the light of our expected ongoing cash flow generation and is designed to give the flexibility to maintain shareholder value growth by returning cash to shareholders, whilst at the same time allowing us to assess and pursue appropriate expansion opportunities or otherwise continue with debt reduction. Outlook As the largest and leading automotive retailer in the UK, we have delivered strong results in the first quarter of 2014. Overall, our business is delivering against our strategy of growth within the used and aftersales sectors, maintaining a balanced portfolio in new whilst delivering first class customer service. We are particularly pleased to report strong operational gearing in the period, which will help to underpin positive momentum in 2014. Given the significant progress, we expect that we will be comfortably ahead of expectations for 2014.
for all vehicles except newly registered vehicles. The UK used market grew by 0.9%, with a market opportunity of 6.8 million vehicles for the 12 months ended 31 December 2013 (the latest available data) following the peak of the 7.6 million unit market in 2006. We expect continued stronger growth in the used car market in 2014. We achieved a 19th successive quarter of growth in volume, with like for like used volume up by 5.2% in the quarter. In the period, the Group’s like for like gross margin improved by 50 basis points, so overall used gross profit increased by a significant 19.4% on a like for like basis. Profitability from our used car sales represents nearly half of our gross profit improvement for the Group in the period. The aftersales sector encompasses the service, maintenance and repair of motor vehicles and is determined by the size and age of the national vehicle parc. Our overall gross profit within aftersales has increased by 5.8% on a like for like basis. Our key performance indicator for aftersales is retail labour sales growth. In 2013, the Group’s retail labour sales increased by 1.3% on a like for like basis, the first increase since 2008. In the first quarter of 2014, the Group’s retail labour sales increased further by 3.6% on a like for like basis. The key segment of the less than three year old vehicle parc grew by 4% in 2013 and we expect this to continue to grow in 2014. Our aftersales activities are underpinned by initiatives such as the selling of service plans, value pricing and Vehicle Health Checks. The new sector consists of the first registration of cars and commercial vehicles. Page 3 of 3 The new car market continues to perform strongly in the UK, with registrations up 13.7% in the period. For the brands we represent from Stratstone.com and Evanshalshaw.com, the market increased by 12.4%. The new retail market registrations for the brands we represent was up 17.7% in the period. Our overall new sales volume increased by 9.3% for the quarter and our UK retail sales volume increased by 6.4%. Our data relates to sales, whereas the UK market data relates to registrations. Our new car margin improved by 50 basis points over the prior year. We improved our like for like gross profit by 12.5% in the period. Our California business continues to perform strongly, with the continued success of the Land Rover franchise and we expect this to be maintained in 2014. Quicks is performing marginally ahead of the prior year and grew used volumes by 9.4% in the period. Our Support businesses of Pinewood, Contracts and Quickco continue to generate steady profit streams for the Group and overall are in line with the prior year. We are expecting the Quickco business to perform somewhat below last year due to a change in commercial terms with its major manufacturer partner. Financial Update Our balance sheet remains strong and we expect the debt : underlying EBITDA ratio to r
INTERIM MANAGEMENT STATEMENT - PENDRAGON PLC (ISSUED 30-APR-2014) This Interim Management Statement for Pendragon PLC, the largest and leading automotive retailer in the UK, covers the period from 1 January 2014 to 29 April 2014. Unless otherwise stated, figures quoted in this statement are for the three months ended 31 March 2014. Highlights  Improved profitability has continued into quarter one 2014 and we therefore expect our underlying profit to be comfortably ahead of expectations for 2014.  Our market leading internet position in the used vehicle sector has delivered improved gross profitability of 19% (like for like), contributing to nearly half of the gross profit improvement of the Group in the period.  Aftersales gross profitability has increased by 6% (like for like) resulting from our self-help initiatives and the continuing upward market trend.  New gross profitability has increased by 13% (like for like), reflecting our large and balanced portfolio.  In the period we grew gross profit by 12% and benefitted from operating leverage with operating profit growing by 31%. Comparators will become tougher during the remainder of the year.  Visitors to Stratstone.com, Evanshalshaw.com and Quicks.co.uk increased by 16.4%. Trevor Finn, Chief Executive, commented: “The key areas of our business are performing ahead of expectations in the first quarter of 2014. Our profits have again grown in our used and new vehicle and aftersales departments. An improvement in operating leverage boosted the bottom line. The highlight of the quarter is our market leading internet position in the used vehicle sector, as we achieved a 19th successive quarter of growth in used volume, coupled with an increase in margin. We therefore expect our 2014 underlying profit to be comfortably ahead of expectations for 2014.” Page 2 of 3 Trading Update We operate our core business in the used, aftersales and new vehicle sectors under the brands of Stratstone.com, Evanshalshaw.com and Quicks.co.uk. We also have a number of support businesses in the associated markets of dealer IT systems, vehicle leasing and parts. We are seeing the positive impacts of the investment in our business model transformation expensed in 2013 which has benefitted operating leverage in quarter one 2014. Gross profit has grown by 12.5% in the period but our operating profit has increased by 30.5%. The development of our online presence continues to bear fruit and we are pleased to report that visitors to Stratstone.com, Evanshalshaw.com and Quicks.co.uk increased by 16.4% in the period. We expect to have 15 million website visitors by the year end, which will be more than double that recorded in 2010. The Group achieved a milestone in January 2014, with over one million visitors to Evanshalshaw.com. The used sector comprises the selling of vehicles from one party to anothe
I was 1 click away from buying 500,000 of these at 2p, 5 years ago. I chose rbs instead for my top up- which did triple in price. Chose the wrong option there.
So are mine.. According to my friends cars are flying off the forecourts. They have all seemed to have acquired new ones recently..
I agree. My pdg shares are isa'd and not getting touched anytime soon. So a steady climb to 40p I'm happy with
have upped their target to 39p. Seems very reasonable for next 6 months, say.
Looking oversold over past few months. Should be back up to 40p soon.
This is exactly what I was waiting for and expected this to be , thanks :)
The whole thing is worth reading - a lot of positivity, and comments that profits etc are ahead of expectations. SP should rise after this. IHMO SP should be nearer 40 than 30p.
This Interim Management Statement for Pendragon PLC, the largest and leading automotive retailer in the UK, covers the period from 1 January 2014 to 29 April 2014. Unless otherwise stated, figures quoted in this statement are for the three months ended 31 March 2014. Highlights · Improved profitability has continued into quarter one 2014 and we therefore expect our underlying profit to be comfortably ahead of expectations for 2014. · Our market leading internet position in the used vehicle sector has delivered improved gross profitability of 19% (like for like), contributing to nearly half of the gross profit improvement of the Group in the period. · Aftersales gross profitability has increased by 6% (like for like) resulting from our self-help initiatives and the continuing upward market trend. · New gross profitability has increased by 13% (like for like), reflecting our large and balanced portfolio. · In the period we grew gross profit by 12% and benefitted from operating leverage with operating profit growing by 31%. Comparators will become tougher during the remainder of the year. · Visitors to Stratstone.com, Evanshalshaw.com and Quicks.co.uk increased by 16.4%.
Can someone post please today's rns
After hours.... mmm
message me your details and ill do the deal for you no problem regardless of company
Odey look as if they think the same..
Sales levels rise to new highs.. Roll on the next update here..
That is next February!! I hope we get some info before then...
After being in a meeting recently we were made aware that Pendragon are buying over 40 VW dealerships across the UK. They have to be doing something right to be funding that. I am looking forward to financial year end results!
If you look at Lookers/Vertu/Inchcape's share prices they aren't doing bad at all, so there's no correlation for the sector as a whole. On a P/E of around 11 this stock is hardly expensive relative to the others mentioned. I can't find anything of substance to justify the recent decline so i guess it's a question of valuation, perhaps it had too good a run going into the results and this is the hangover? Seems a long time since the 37p price we had in January.
Join Inchcape my friend but You have less to worry about I assure you. inch UK boat is way offshore and sinking fast. IMHO Nobody on the BOD has any motor trade background and they can't get through their thick skulls that we need motor trade knowledge. "It's just retail". CEO an Acct. Finance Director an Acct. HR Director an Engineer No hope, no chance and the 3 of them bringing the UK market place to a halt.