Valuations in the UK motor retail sector have de-rated as the market speculates that the UK is reaching a mature stage of the new car cycle. This is reflected in a 28% fall in the Pendragon share price in 2016 to date, further to which the shares are trading on a PE approaching 9x FY16 earnings and prospective yield close to 4%. However, Q116 SMMT data highlights sustained pcp driven demand for new cars and momentum in used and aftersales sectors - generated from the growing 1-6 old UK parc -
28 Apr 2016
Q116 trading update
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Q116 trading update
Pinewood Technologies Group PLC (PINE:LON) | 38.4 0 (-0.3%) | Mkt Cap: 669.5m
- Published:
28 Apr 2016 -
Author:
Ben Thefaut - Pages:
Valuations in the UK motor retail sector have de-rated as the market speculates that the UK is reaching a mature stage of the new car cycle. This is reflected in a 28% fall in the Pendragon share price in 2016 to date, further to which the shares are trading on a PE approaching 9x FY16 earnings and prospective yield close to 4%. However, Q116 SMMT data highlights sustained pcp driven demand for new cars and momentum in used and aftersales sectors - generated from the growing 1-6 old UK parc -