Pendragon expects H1 profits up 9% to £36.5m, used GPU hits £1,400

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Pendragon is predicted to report a 9% enhance in underlying revenue earlier than tax of £36.5m within the six months to June.

In a pre-close buying and selling assertion, it stated new automobile gross sales rose 18.3% on a like-for-like foundation and new gross revenue per unit was £200 greater year-on-year.

Pendragon reported used quantity development, up 7.2% on a like-for-like base with used gross revenue per unit (GPU) of £1,400. Aftersales delivered like-for-like gross revenue development of 14% through the first half.

The software program enterprise Pinewood and leasing arm Pendragon Car Administration delivered working revenue development in extra of 10% year-on-year.

Pendragon will reveal its FY23 interim outcomes on 27 September 2023 together with Capital Markets Occasion on Pinewood.

Pendragon CEO Invoice Berman stated: “Pendragon has continued to carry out nicely, demonstrating the continued success of our technique.

“Elevated gross sales throughout all divisions and better profitability greater than offset price pressures, leading to a powerful money place.

“Whereas we count on excessive inflation and rates of interest to persist within the second half of the yr, our resilient model means we’re well-placed to carry out in step with Boards expectations.”

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