Pendragon ahead of expectations
Nottingham-headquartered car supermarket Pendragon has increased operating profit in its third quarter by almost 30 per cent as the Stratstone and Evans Halshaw brands continued to outperform the previous year.
Visitors to the Stratstone, Evans Halshaw and Quicks websites also increased in the three months ended 30 September 2014 by 16.8 per cent. Pendragon said it continued to invest in the online strategy and now had a market share of automotive dealership websites of more than 8 per cent for the combined sites.
The aftersales and used divisions of the listed group also bumped up profitability by about 3 per cent in the quarter.
Chief executive Trevor Finn said: "We continue to grow the business and deliver against our strategy.
"Strong performance improvement continued across our used, aftersales and new departments in quarter three. Our strategy is underpinned by our competitive advantages which are: to be number one online, leverage our superior IT, complete our national footprint to increase customer touch-points, and offer customers value.
"Given the continued strong performance in quarter three, we will be ahead of expectations for the full year."