Pendragon in profit surge after job cuts

first_img Pendragon in profit surge after job cuts Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo whatsapp KCS-content More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: Sharecenter_img Tags: NULL Show Comments ▼ Tuesday 22 February 2011 7:52 pm whatsapp CAR dealership group Pendragon said yesterday its profit had doubled after axing more than 600 jobs. The UK’s largest independent operator of franchised car dealerships – including –?Evans Halshaw and Stratstone – posted underlying pre-tax profits of £25.2m in the year to 31 December.The company, which sells premium models such as Maserati and Mercedes-Benz through its Stratstone dealership, said used-vehicle volumes would grow in 2011 under its Quicks brand.Trevor Finn, Pendragon chief executive, said: “The results of our used car operations have been particularly pleasing with out-performance against the market.“While the group performed well in 2010, what’s more pleasing is to see that momentum carried forward into January, and we look forward to it continuing during 2011.” The company, which also trades as Chatfields, said after-sales revenues, which include parts and maintenance, dropped from £391.3m in 2009 to £354.7m last year. But used and new car revenues were up, as were revenues in its wholesale business. Pendragon sold 101,000 new cars last year – or five per cent of the UK market. It said it would continue to review its 245 franchises for potential closure or sale, in order to further boost its profit. The group said it had reduced its fleet by 4,100 since 2009, while profitability was driven by a strong performance from its volume car retailer Evans Halshaw as well as its prestige arm Stratstone.Pendragon said it is targeting women, or what it calls “providing a softer sales environment”, at its new Quicks second-hand car supermarkets in a bid to drive up sales. Finn said: “A lot of the male population is employed by corporates and get company cars.” Last month BMW and Mercedes recorded bumper sales figures ? fuelled mainly by emerging markets but also a bounce back in US sales. last_img

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