25 Jan 2023
Pendragon (PDG LN) - FY22 results marginally ahead
Pendragon has released a trading update for FY22 showing a strong underlying trading performance and good volume growth in Q4 in new and used vehicles. Underlying PBT in FY22 is expected to be £57.0m, 3.1% ahead of our £55.3m forecast, whilst net debt (ex. leases) of c. £23m was c. £10m better than we expected (£32.7m). The Group’s new car order bank remains strong and we are confident that Pendragon will be able to grow operating profit in FY23 as it executes on its strategy and the new car mar ....
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Pendragon (PDG LN) - FY22 results marginally ahead
Pinewood Technologies Group PLC (PINE:LON) | 39.0 0 0.1% | Mkt Cap: 678.6m
- Published:
25 Jan 2023 -
Author:
Carl Smith, CFA -
Pages:
8
Pendragon has released a trading update for FY22 showing a strong underlying trading performance and good volume growth in Q4 in new and used vehicles. Underlying PBT in FY22 is expected to be £57.0m, 3.1% ahead of our £55.3m forecast, whilst net debt (ex. leases) of c. £23m was c. £10m better than we expected (£32.7m). The Group’s new car order bank remains strong and we are confident that Pendragon will be able to grow operating profit in FY23 as it executes on its strategy and the new car mar ....