Wednesday, November 14, 2007
Dealer groups enjoy October shares revival
Pendragon was among the big UK dealer groups to see its share values bounce back last month.
According to market commentary from Philip Wylie, of Houlihan Lokey Corporate Finance, Pendragon's shares rose in value by 17 per cent in October, in sharp contrast to the heavy falls they suffered earlier in the year.
Pendragon, the leading dealer group in Motor Trader's Top 200, has endured a tough period since taking over the Reg Vardy operation in February 2006.
Lookers posted October's biggest share gains, up 35 per cent, after paying £53m for Dutton Foreshaw, some £8m less than the expected asking price.
DATED: 14.11.07
FEED: MT
