7:44 am, October 29, 2013
PENDRAGON expects its full-year profit to exceed market expectations, as new car sales continue to boom.
In a recent trading statement, the dealer group said the volume of new car sales rose 15.6 per cent in the first nine months of 2013, with an 8.9 per cent uplift in used car sales.
Meanwhile, visits to Stratstone, Evans Halshaw and Quicks dealership websites were up 23.5 per cent in comparison to the previous year.
Chief executive, Trevor Finn, said: ‘Profitability in 2013 is expected to be materially ahead of expectations for the full year and we are cautiously optimistic about the prospects for 2014.
‘Market conditions have been favourable this year, while the outlook for next year remains promising.’
Prior to this statement, the company was expected to report an average full year pretax profit of around £41million.
