Pinewood Technologies Group (PINE)

Sector:

Retailers

Index:

FTSE Small Cap

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

Pendragon delivers 'strong' Q3 trading performance

By Iain Gilbert

Date: Tuesday 25 Oct 2022

LONDON (ShareCast) - (Sharecast News) - Automotive retailer Pendragon said on Tuesday that it had delivered "a strong trading performance" in the three months ended 30 September, with gross profit maintained at "the exceptional level" seen in the third quarter of 2021.
Pendragon, which highlighted that underlying pre-tax profits had slipped from £21.5m to £14.7m during the period, stated its performance had benefitted from "continued progress" in the delivery of its strategy to transform automotive retail through "digital innovation and operational excellence".

The London-listed group stated new vehicle volumes continued to be impacted by reduced supply in the third quarter, with the market down 0.1% against a 2021 baseline which was already well below historic norms.

However, Pendragon said it had outperformed the market with new units up 14.2% in the quarter, while new margins were also said to have remained strong, with gross profit per unit of £2,597 - up £743 compared to 2021.

Used vehicle volumes were also down on the prior year, as reduced new car production continued to have a knock-on impact on used car availability, but aftersales revenue and gross margins were both higher than in the prior year, with revenue up 5.0%, margin rate up to 51.7% and gross profit up 7.8% as a result.

"We are pleased with the performance in Q3 FY22 and remain confident in delivering progress towards our long-term goals. While we continue to expect both new and used vehicle supply shortfalls for the last quarter of FY22 and into 2023, the new car order bank remains well above historic normal levels at over 20,000 at the end of September. The economic backdrop remains challenging, however, we continue to expect to deliver group underlying profit before tax in line with board expectations for the current financial year," said Pendragon.

As of 0840 BST, Pendragon shares were up 2.23% at 27.50p.



Reporting by Iain Gilbert at Sharecast.com

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PINE Market Data

Currency UK Pounds
Share Price 381.50p
Change Today -7.00p
% Change -1.80 %
52 Week High 795.00p
52 Week Low 312.00p
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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