Monday, March 03, 2008
Pendragon dismisses profit fears
Pendragon, the UK’s largest car dealer, has shrugged off claims by a market analyst that it will fail to hit its profit target for 2008.
Stockbroker Brewin Dolphin predicted the group would post profit before tax and exceptionals of just £22.4m this year – a 35 per cent fall on 2007’s figure and less than half the £50m target set by Pendragon.
But David Forsyth, finance director of the £5bn turnover group, told Motor Trader: “There are half a dozen analysts out there, they all have different agendas. The consensus is that we’ll take £20m more in 2008 than we did in 2007.”
DATED: 03.03.08
FEED: MT
Stockbroker Brewin Dolphin predicted the group would post profit before tax and exceptionals of just £22.4m this year – a 35 per cent fall on 2007’s figure and less than half the £50m target set by Pendragon.
But David Forsyth, finance director of the £5bn turnover group, told Motor Trader: “There are half a dozen analysts out there, they all have different agendas. The consensus is that we’ll take £20m more in 2008 than we did in 2007.”
DATED: 03.03.08
FEED: MT
