LONDON (ShareCast) - (ShareCast News) - Auto retailer Pendragon said full year pre-tax profits jumped 22.3% to £79m, adding that it still expected to see growth in its aftersales and used car markets with the new car sector stable.
Operating profits were up 25.2% to £121m on revenues of £4.45bn, an increase of 11%. Underlying profits before tax rose to £70.1m from £60.2m in 2014.

Earnings per share rose 43% to to 5p.

Chief executive Trevor Finn said the company was looking forward to growing the business further from organic activity and selective acquisitions although he noted an easing in the new car market.

The group said it had completed an improved unsecured refinancing of its loan facilities, obtaining a new revolving five year credit facility of £240m, expiring in March 2021 and carrying out a new seven year £60m private placement, expiring in March 2023.

As a result of this new facility and placement, the company said it would be calling its existing £175m bond in March 2016.

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