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Pendragon: profits up, debt down

The UK’s largest auto retail group, Pendragon, has announced full year 2011 pre-tax profits of £24.0 million, an increase of £13.0 million over 2010. The increased profit has been achieved on reduced

Rumours lift Pendragon shares

Shares in Pendragon, the UK’s largest auto retail group, have risen rapidly in the week after rumours of a pending stock market announcement swept the City. From a low point of 7.4p on January 19, the shares ended

Pendragon profits up 12.7%

Pendragon has delivered financial results in the half-year to June 30 slightly ahead of expectations. Underlying pre-tax profits are up 12.7% at £17.7m and the underlying operating margin has improved too, up 20

Bosses buy to boost Pendragon

Senior directors of Pendragon have stepped in to try to restore confidence in the auto retail group following its disappointing rights issue earlier this month. The directors have bought a total of 21.3 million shares

Pendragon rights issue flops

Pendragon’s recent 9 for 8 rights issue has had only a 67.7% uptake, leaving the underwriting firms to take up nearly 243 million shares at 10p each. The rights issue, announced on 14 July, leaves the underwriting

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

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