Monday, February 25, 2008
Pendragon set to stabilise in 2008
Analyst claims giant dealer group set for important year
Pendragon, the UK’s largest dealer group, faces a year of stabilising its business and is unlikely to embark on any major acquisitions in 2008, according to an industry analyst.
Despite the downturn in profits announced last week, Pendragon said it would maintain its policy of growth through acquisition.
But Mike Allen, analyst from stockbroker Panmure Gordon, predicted any further buys would only be “bolt-on” acquisitions and on a far smaller scale than the mega-deals that saw Pendragon swallow up CD Bramall and Reg Vardy in recent years.
DATED: 25.02.08
FEED: MT
