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Pendragon

Companies: PDG

31/08/2000

The delay in the resolution of the pricing issue impacted upon interim results at this car dealership. The results showed pre-tax profits falling to £10.5m (£12.2m) on reduced turnover of £763.7m (£997.7m). The discrepancies between UK and European pricing was the main cause of the downturn, as punters either went abroad to buy their cars or refrained from buying completely. The net result was that margins and volumes were badly affected.

Market cap:	£98.2m
PE Average:	n/a
PE Forecast:	7.6
PE Historic:	n/a
Share price:	161p

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