PDG13 Jan 2010 16:43
Sorry off topic
Pendragon are a nice share to be in at the moment - they fell really heavily (used to be 45p) on concerns about 2010 new car sales and the end of the scrappage, but actually margins are better on used car sales, which will continue to do well into 2010
i think a recovery to 30p is very likely next week or so, and it could reach its recent highs of 45p quite easily
the group is profitable, has cut overheads by £60m per annum, and is paying off its debt
its a real turnaround from 9 months ago, and the future looks much rosier
GL