Pendragon’s share price has rallied following the publication of full-year financial results revealed the AM100’s second largest retail group had suffered a 19.9% dip in underlying profit before tax.
Vertu Motors chief executive Robert Forrester has said that the group will be considering how it can best "deploy capital" to drive growth in 2018 following a trading update which revealed a new car sales decline of 15.7%.
Stoneacre Motor Group has reported that there is “ample opportunity for growth” after group turnover rose by 28.5% and pre-tax profits by 29.5% during its 2017 financial year.
Marshall Motor Holdings has reported 2017 financial performance ahead of its “previously upgraded pre and post-tax expectations” in a statement issued by the London Stock Exchange.
Pendragon will dispose of its US-based retail group and begin the reduction of its premium franchises in the UK as part of a revised business strategy.
Motorpoint has said that it is “ideally positioned to continue its market share growth” after delivering a 64% increase in profits before tax and exceptional items and an 18% rise in revenues in its interim results.
BCA Marketplace has reported a 28.8% rise in revenues as the growth of WeBuyAnyCar.com and growing auction volumes took effect in the six months to October 1.
Caffyns has reported a 26.7% fall in underlying profit before tax as turnover rose by 1.25% to £106.5 million in its accounts for the half-year to September 30.
Luscombe Motors recorded a 24.5% rise in profit before tax and a 5.3% increase in turnover following a restructure which made the business “less reliant on the managing director”.
Auto Trader’s pre-tax profits rose 10% to £105.4 million as turnover rose by 7% to £165 million as the online marketplace returned H1 financial results which were “in-line with market expectations”.
Lookers has reported new car margins and profit per unit for both new retail and fleet cars were higher year-on-year in a trading update on the year to September 30.
Inchcape has revealed that it expects to “continue to benefit from its global diversification and scale” in a trading update which revealed group revenues had risen 14.6% to £2.3 billion in Q3.
Pendragon chairman Mel Egglenton has stepped down from his position as the PLC issued its forecast of falling profits in 2017.
Pendragon is set to review and restructure its franchised dealer operations after issuing a profit warning to the London Stock Exchange.
Vertu Motors has reported six-months of growth in operating profit, earnings per share, dividends and return on sales despite revenues remaining flat at £1.45bn.
Groupe Renault has set out a six-year plan to grow its global volumes by 40% to over five million vehicles as it targets a 7% margin from revenues of over £62 billion.
Motorpoint Group PLC has said that it expects to report revenue growth of over 18% during the first half of 2017, compared to the same period last year.
The John Clark Motor Group will grow through the post-Brexit period despite a “ongoing political uncertainty” and a “stable but fragile economy”, according to a statement made following the publication of its 2016 financial results.
Norton Way Group has reported a revenues rise of £213m for 2016 a year after opening Europe’s largest Kia showroom in Brentford.
The Trade Centre Wales has reported pre-tax profits £10m ahead of 2016 in a trading update for the first two-thirds of this year.
