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Pendragon refinances with rights issue

Pendragon, the UK’s largest auto retailer, is refinancing using a fully underwritten rights issue as part of a move to improve its borrowing terms. The aim of the rights issue will be to raise approximately

Bid talk boosts Pendragon

Shares in Pendragon jumped nearly 30% this week after rumours started circulating about a possible takeover bid. The UK’s largest auto retail group has seen its market value slump in recent months making it

Pendragon – Net debt back on track

Net debt at Pendragon PLC has returned to planned levels, and the company hopes it to remain there until at least the end of the year according to the company’s latest interim management statement. Looking forward,

Pendragon wins eviction notice for travellers

Pendragon has successfully applied to have travellers removed from its old Renault in Craigshaw Drive, Aberdeen. Encampments had been set-up at two sites in the city but Pendragon and Aberdeen City Council received

Luxury brands helped Pendragon

Pendragon’s pre-tax profits jumped 48% to £15.7m in the first half of the year. The Stratstone Ferrari, BMW and Aston Martin dealerships led the way with a 20% rise in new car sales. Stratstone posted gross

Pendragon lines-up new aftersales initiatives

Pendragon said this week that it will pursue a strategy to grow aftersales profitability. A number of initiatives designed to secure this growth are being introduced. The retailer said it was ‘cautiously

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