|Bid||9.79 x 0|
|Ask||9.86 x 0|
|Day's Range||9.75 - 10.20|
|52 Week Range||8.83 - 28.60|
|Beta (3Y Monthly)||0.52|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.01 (14.34%)|
|1y Target Est||N/A|
Shares of Pendragon slumped 9% in London trade as the U.K. car dealer reported a "challenging" first half as revenue dropped 0.8% to £2.46 billion pounds and a £32.2 million underlying loss before tax. Saying the heightened political and Brexit uncertainty are weighing on consumer confidence, Pendragon said it expects a loss before tax at the bottom of its expectations.
Pendragon, which operates the Evans Halshaw, Stratstone and Quickco brands, said that a strategic update scheduled to be announced in September will be delayed until a new CEO is named. Herbert has stepped down by mutual agreement and will leave the company on June 30, the company said in a statement. Shares in the company, which have fallen about 37 percent since Herbert took over as CEO on April 1, fell another 4% in early trading.
Pendragon shares crashed 23% on Wednesday as the car dealer said a jam of unsold vehicles and other problems in the business would see it fall to a small loss for the year. New chief executive Mark Herbert, who replaced 30-year veteran Trevor Finn in April, undertook a “financial and operational review” which today showed that each element of the company has problems. Herbert said: “Notwithstanding the challenging market and uncertain macro outlook, the expected loss for the year is still disappointing,” adding that he saw “opportunities to improve the business” and return to profit.
Cars dealer Pendragon plunged today after revealing an unexpected loss, piling pressure on new management just weeks after they took over. Last month cars body SMMT said new car registrations had fallen by around 3% in march as uncertainty over new diesel regulations also dented consumer confidence. As a result chief executive Mark Herbert and chief financial officer Mark Willis, who both joined this month, have launched a strategic review, although the company refused to say if this could result in parts of the business being sold off.
(Reuters) - Pendragon said on Wednesday it would review its operational and financial prospects under its new management after margin pressures led it to report an underlying loss before tax of 2.8 million ...
Britain's markets watchdog said it may ban some methods used by brokers to reward car dealers that end up overcharging an estimated 560,000 customers about 300 million pounds a year. The Financial Conduct Authority said it found widespread use of commission models that allow brokers discretion to set the customer interest rate and thus earn higher commission. "We found that some motor dealers are overcharging unsuspecting customers over 1,000 pounds in interest charges in order to obtain bigger commission payouts for themselves," said Jonathan Davidson, executive director of supervision for retail at the watchdog.
Investors are always looking for growth in small-cap stocks like Pendragon PLC (LON:PDG), with a market cap of UK£312m. However, an important fact which most ignore is: how financially healthy Read More...