Pendragon optimistic on full year results
Car company Pendragon said on Friday that it expected its full year results for 2008 to be at the upper end of market expectations.
BAE posts rise in underlying profitThe company said that it's used car sales volumes had gone up 2.0 per cent on the year, whilst new car sales had dropped 4.0 per cent compared to the first quarter of 2007. Pendragon added that used car net profit per vehicle had risen every month since October last year.
Whilst Pendragon said it was confident of meeting the upper end of market expectations, the company conceded that it was unsure how big the impact of the tightened credit conditions and falling house prices would be for its full year results.
Pendragon said in a statement, "As anticipated, trading conditions have remained uncertain into 2008, principally because of turmoil in financial markets," reports the BBC.
"Despite this difficult background, our performance in the first three months of the year has been encouraging." Pendragon said it was confident it would have a "satisfactory outcome to the year at the upper end of expectations".
- 1 Local private investors could miss an upturn
- 2 BoE expected to hold interest rates steady at 5 pct
- 3 Markets see ECB rates on hold through first half of yr
- 4 Fears of slowdown could veer China into trouble
- 5 BP Russian partners say row solved
- 6 U.S. corporates look to hedge as dollar rebounds
- 7 Utility windfall profits in tax spotlight
|
|
|
