Pendragon PLC(PDG.L), an operator of franchised motor car dealerships, Friday in its interim management statement for the period January 1 to May 16 reported a good progress in the first quarter, and added on that trading was in line with their expectations.
The company said that the used and new vehicle activity levels and gross profit improved in the three-month period compared with last year. Aftersales profitability and underlying trading performance was in line with the group's expectation. Online business saw a growth and number of website visitors to Stratstone.com, Evans Halshaw.com and Quicks.co.uk, increased 20.6 percent during the quarter compared with the prior year.
Used vehicle volumes increased by 3.2 percent over 2012 on a like for like basis, and used vehicle margin improved by 40 basis points.
UK market for new retail registrations increased by 11.2 percent, and UK like for like new retail sales increased by 16.7 percent over last year. Quicks, used car operation of the company improved profitability by 0.9 million pounds over the prior year owing to enhanced vehicle margin by 430 basis points and 12.9 percent increase in used volume. The California business is ahead of the prior year as a result of the favourable product mix of Land Rover, Jaguar and Aston Martin, the company said in a statement.
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