The Motorpoint used car supermarket group has revealed turnover growth of 57% and pre-tax profits up 30% in a trading update for the first half of 2021.
Pendragon has followed fellow car retail PLCs Marshall and Lookers into issuing an upgrade to its 2021 profit expectations after a “strong” Q3 performance.
Cambria Automobiles will officially relinquish its PLC status as of October 13 after chief executive Mark Lavery successfully completed his takeover bid this week.
Polestar will embark on a £14.6 billion public listing as part of a strategy to fund “significant investment in products and the expansion of operations and markets”, it has revealed.
Cambria Automobiles’ £82.5 million takeover by the car retail group’s chief executive Mark Lavery has now exceeded the required 75% acceptance rate needed to succeed.
The deadline for the takeover of Cambria Automobiles by chief executive Mark Lavery has been extended by a week after shareholders held-back from accepting the terms of his £82.5 million offer.
Vertu Motors has embarked on a £3 million share buyback programme and is set to resume dividend payments after upgrading its 2021 profit expectations to £50m to £55m.
Cambria Automobiles chief executive Mark Lavery has agreed an improved management buy-out offer of £82.5 million with the AM100 PLC’s board or directors.
Strong demand from car buyers and good levels of stock in the first half of the year have prompted Pendragon to upgrade its pre-tax profit guidance for 2021 by 20%.
Inchcape PLC has reported a 30% rise in turnover and a near 15-fold increase in its pre-tax profits as showed strong signs of recovery from the COVID-19 pandemic in the first half of 2021.
Lookers has said that a positive swing in performance that will see 2020’s H1 loss of £50 million converted into a £50m pre-tax profit in the first half of this year.
Motorpoint has revealed that it sold 61% of its used car volume online in Q1 as it accelerated its ecommerce retail offering to deliver a record start to 2021.
Lookers has said that it can now “look to the future with confidence” after emerging from the most challenging period in its history.
Pendragon has followed criticism over its lack of trading statements with a pre-close update forecasting full-year 2021 underlying profit before tax of £45 million to £50m.
Lookers will report its 2020 annual financial results on the Financial Conduct Authority’s (FCA) June 30 reporting deadline after announcing a "short delay" in publication.
Cambria Automobiles could be trading as a private company by July 29 after a timeframe for the proposed management buy-out by chief executive Mark Lavery was decided this week.
Vertu Motors PLC has upgraded its pre-tax profit forecast for 2020 to £28 to £30 million – above current market expectations.
Vertu Motors has followed fellow AM100 car retail PLC Lookers in urging shareholders to stay away from their upcoming AGM after the stalled easing of COVID-19 lockdown measures.
Inchcape has revealed that its year-to-date financial performance has “exceeded expectations” in a brief trading update issued today (June 18).
Cambria Automobiles chief executive Mark Lavery has said that he looks forward to “capitalising on the growth opportunities ahead” after agreeing the terms of the group’s management buy-out (MBO).
