Pendragon plc Appoints New Non-Executive Director According to BAC Report07 Feb 2013 • by Natalie Aster
LONDON – Late January Pendragon plc named Chris Chambers as its new independent non-executive director who will replace retiring Ian Coull. Mr Chambers assumed office January 28th. He has built a successful career working for European Equity Capital Markets at Credit Suisse First Boston, MAN Group PLC, Swiss Jelmoli store, Swiss Prime Site AG, Berenberg Bank (Schweiz) AG, G.E. Money Bank AG Switzerland, Lone Star Europe.
Pendragon’s strategy of coping with the financial turmoil has justified itself. The company was able to improve its profit margin in 2011. Thus, revenue and gross profit lost 3.1% and 5.8% respectively over 2010 and amounted to GBP 3.5 B and GBP 470.6 M. operating and net income increased by 11% and over 500% respectively, and reached GBP 67.6 M and GBP 39.8 M.
Semi-annual results for 2012 also reveal some increase over the corresponding period of 2011. For the period ended June 2012 revenue comprised GBP 1.9 B, gross profit equaled GBP 245 M, operating income amounted GBP 38.5 M, net income was GBP 17.5 M.
The expectations for the whole year are fulfilling. Company’s trading performance is strong, with used cars segment being the most important influence. New cars segment is expected to foster company’s results on H2 2012. Aftersales segment remains growing. The target indices set at the beginning of 2012 are anticipated to be met in the annual resuls.
Founded in 1989 and headquartered in Annesley, Nottingham (UK), Pendragon plc engages in retail of new and used cars, as well as aftersales services. The company runs over 230 franchise points across the UK and in California (USA). Company’s business can be divided into four segments: Aftersales Services, Used Vehicle Sales, New Vehicle Sales, Support. Pendragon trades on London Stock Exchange under the ticker PDG.
Further details on the company’s operations, markets, business segments and financials can be found in the report “Pendragon plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Pendragon plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Jan, 2013
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