James Bond’s favourite carmaker Aston Martin Lagonda last week recorded a £13m loss for the last quarter, pointing to tough trading conditions in the UK and Europe along with disappointing sales of its Vantage two-seater sports car.
Pendragon has delivered an interim statement to share news of a 57.9% growth in underlying profit before tax as revenues and profits continued to decline amid mass site closures during Q3.
Having recently secured a major £120m bonds deal, Aston Martin appears to be banking on innovating its way through the current tough trading conditions and CEO, Andy Palmer, has promised that its ambitious investment plan can succeed.
Aston Martin’s decision to raise £120m in senior secured bonds in a move which will see it paying 12% interest has been described as an “all-or-nothing rescue attempt” by the Financial Times.
Pendragon could be poised to make 1,300 redendancies as part of a business restructure designed to stem its faltering financial performance.
Motorpoint’s share value slumped by over 15% after the car supermarket’s founder David Shelby sold 11 million shares “in connection with divorce proceedings”.
Pendragon has completed the £17.2 million disposal of its Chevrolet car dealership in Puente Hills, California.
Pendragon has completed the disposal of its JLR dealership in Mission Viejo, California, fro £28.2 million.
Blue Motor Finance has been recognised by the London Stock Exchange Group as one of Britain’s most inspiring companies.
Pendragon’s recently-appointed chief executive, Mark Herbert, will leave the business at the end of this month according to a statement issued via the London Stock Exchange.
Lookers has said that it is “cooperating fully” with the Financial Conduct Authority (FCA) as the regulator announced that it was commencing an investigation into the car retail group’s sales process.
Pendragon needs to refocus its Car Store used car supermarket strategy as it seeks out “self-help opportunities” in light of an operational business review which predicted that the group would make a significant loss in H1, 2019.
Lookers has reported growing turnover and profitability across new and used car sales and its aftersales operations in a trading update announced at its AGM today.
Pendragon has attracted further investment from Swedish investment company Anders Hedin Invest, just five days after its acquisition of an initial 9% share of the car retail group.
Shares in Pendragon closed 1.3% up on Wednesday (January 23) after Swedish investment company Anders Hedin Invest bought a 9.24% share in the AM100’s former number one retail group.
Aston Martin has reported an 899% year-on-year increase in profits during Q3 as it doubled production output in its first set of financial results since its IPO last month.
Pendragon share prices fell by over 21% as markets opened this morning as the AM100 franchise car retailer issued a fresh profit warning.
Aston Martin has named former Coca Cola and RBS executive Penny Hughes as its new chairman ahead of an October float on the London Stock Exchange.
Record profits have prompted Aston Martin to announce its plans to float on the London Stock Exchange later this year.
BCA Marketplace has rejected a £1.61bn takeover offer from London-based private equity firm Apax Partners.
