Pinewood Technologies Group (PINE)

Sector:

Retailers

Index:

FTSE Small Cap

381.50p
   
  • Change Today:
    -7.00p
  • 52 Week High: 795.00
  • 52 Week Low: 312.00
  • Currency: UK Pounds
  • Shares Issued: 87.12m
  • Volume: 1,392,335
  • Market Cap: £332.35m

Pendragon ticked off for reporting errors

By Michael Millar

Date: Tuesday 07 Aug 2012

LONDON (ShareCast) - Shares in car dealer Pendragon fell today after the firm got a slap on the wrist from the UK's financial reporting watchdog.

The Financial Reporting Council (FRC) was concerned about Pendragon's presentation of cash flows from its contract hire vehicle operations in its full year 2011 figures.

It said that in figures reported today the company had rectified the problem.

"As a result of the...correction, cash inflow from operating activities originally reported as £83.9m was overstated by £31.3m," the FRC said.

"[It] should therefore, have been reported as £52.6m and net cash outflow from investing activities originally reported as £55.1m was overstated by £31.3m and should, therefore, have been reported as £23.8m in the 2011 accounts."

Shares in the firm fell 6.15% following the announcement.

Pendragon first half figures showed its new and used car sectors performed well over the six month period, with results across the group generally improving into the second quarter of 2012.

"Trading momentum in New and Used is expected to continue into the second half of the year and the group's current performance remains consistent with the board's expectations for the full year," said Chief Executive Trevor Finn.

"In line with earlier statements, it remains the board's intention that the company resumes paying dividends in relation to its 2012 financial year and onwards."

Revenues in the first half rose from £1.77bn to £1.91bn, while pre-tax profits were up to £19.1m, from £17.7m the year before.

Pendragon said it had outperformed the market with new and used vehicle sales, which were up 13.9% and 7.5% respectively, on a like-for-like basis.

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PINE Market Data

Currency UK Pounds
Share Price 381.50p
Change Today -7.00p
% Change -1.80 %
52 Week High 795.00
52 Week Low 312.00
Volume 1,392,335
Shares Issued 87.12m
Market Cap £332.35m

PINE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
42.63% above the market average42.63% above the market average42.63% above the market average42.63% above the market average42.63% above the market average
48.72% above the sector average48.72% above the sector average48.72% above the sector average48.72% above the sector average48.72% above the sector average
Price Trend
15.8% below the market average15.8% below the market average15.8% below the market average15.8% below the market average15.8% below the market average
Sector averageSector averageSector averageSector averageSector average
Income Not Available
Growth
14.71% below the market average14.71% below the market average14.71% below the market average14.71% below the market average14.71% below the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average

PINE Dividends

  Latest Previous
  Special Final
Ex-Div 23-Apr-24 18-Apr-19
Paid 07-May-24 30-May-19
Amount 24.50p 0.70p

Trades for 14-Jun-2024

Time Volume / Share Price
16:37 35,000 @ 381.50p
16:27 50,000 @ 382.00p
14:47 150,000 @ 381.40p
11:22 150,000 @ 385.75p
16:37 35,000 @ 381.50p

PINE Key Personnel

CFO Mark Simon Willis
CEO William Berman

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