Prudential executive reduces stake
25th Aug 2011 13:58
Prudential director Barry Stowe has cut his stake in the company selling 95,000 of his shares. Stowe, who now holds 1,100,796 shares in the firm, made the sale on 23 August for a total price of £563,046 at 592.68p per share. The 52-year-old, who has been in his role since November 2006 after mor
Read morePendragon on course for year
23rd Aug 2011 07:53
Strong demand for used cars helped dealership Pendragon ramp up profit 37% in the first half of the year as it continues to trade in line with company expectations for the full year. The group, which recently raised £75m from a rights issue, said pre-tax profit for six months ended 30 June increase
Read morePendragon overhang after lukewarm rights issue response
17th Aug 2011 12:03
Car dealer Pendragon shifted into reverse as shareholder response to its recent rights issue was lukewarm. The company said it has received acceptances in respect of around 67.7% of the shares being offered by way of the 9 for 8 rights issue announced on 14 July. The shares were being offered at 1
Read moreFriday tips round-up: Pendragon, Centaur, ABF
15th Jul 2011 06:33
The rights issue from Pendragon, our biggest car dealer, does the job of shoring-up the finances and putting the business in a better shape to go ahead. It is also enormous, nine new shares for eight and at 10p, is a 54% discount to the last closing share price. Nick Bubb at Arden Partners is looki
Read moreBankers drive Pendragon to reduce debt
14th Jul 2011 12:38
The UK's largest motor dealer Pendragon is to tackle its debt mountain at the behest of its bankers through a deeply discounted rights issue. The company intends to raise £75.2m (about £70.8m net of expenses) through the issue of shares at 10p each, which will be offered to existing shareholders n
Read moreAftersales buoyant for Pendragon
10th May 2011 14:36
Car dealer Pendragon has seen an improvement in the key business metrics in the first quarter and expects this improvement to continue for the rest of the year. Aftersales remains the primary source of gross profit for the group, and gross profit margin improved by 2.8 percentage points over the pr
Read moreWH Ireland bosses buy big
5th Apr 2011 16:19
Bosses at WH Ireland had the company they work for in their sights today as they splashed out thousands of pounds on shares in the stockbroker. Chief executive Paul Compton was the biggest spender, taking 670,448 shares at 50p a time. The purchase, which set him back £335,174, takes his holding to
Read moreAsian Citrus directors buy after interims
1st Mar 2011 16:40
Two directors of AIM-quoted and Hong Kong-listed Asian Citrus have made significant investments in the Chinese orange grower. Non-executive director Hon Peregrine Moncreiffe has invested nearly £294,000 by acquiring 400,000 shares at an average price of 73.39p each. That takes his shareholding to
Read moreWednesday tips round-up: Anglo American, Informa, Devro...
23rd Feb 2011 06:43
Anglo American has a clear growth strategy, with a pipeline of 60 projects requiring $70bn of investment. It plans to double production of its commodities over the next decade. Anglo's Barro Alto nickel project in Brazil will begin production imminently and its Los Bronces copper expansion in Chil
Read moreLondon close: Rally falls short as Libya casts shadow
22nd Feb 2011 17:00
Strong consumer confidence figures in the US sparked an impressive rally from the top share index this afternoon following earlier gloom over the Libyan turmoil and the higher oil price, but worries re-emerged and the FTSE 100 finished below 6,000. BHP Billiton is one of those that has limped into
Read moreLondon afternoon: Modest rally continues
22nd Feb 2011 14:12
Shares continued to pare the morning's losses over the lunch time trading session, and from a position at the mid-morning stage where only five FTSE 100 constituents were in positive territory, by 2pm that number had grown to around 20. BHP Billiton is one of those that has limped into the black. T
Read morePendragon doubles profit
22nd Feb 2011 08:10
Robust demand for new and used cars helped Pendragon, the UK's largest car dealer, more than double full year profit as momentum carried forward into January 2011. Underlying pre-tax profit rose to £25.2m in the twelve months to 31 December 2010 from £10.1m the year before. Revenue rose to £3.6bn f
Read moreSector movers: Retailers cap big week with gains
22nd Oct 2010 13:56
The retail sector is going well at the end of a busy week, that has seen Argos owner Home Retail, department store Debenhams and a few others issuing numbers. News from the sector is thin on the ground today, though motor dealer Pendragon has said it is growing faster than the market as its recover
Read morePendragon continues recovery
22nd Oct 2010 12:28
Motor dealer Pendragon is growing faster than the market as its recovery continues in the third quarter of 2010. Excluding the effect of last year's scrappage scheme, Pendragon's new car sales were 30.1% higher in the three months to September 2010, compared with a 27.6% improvement in the market.
Read moreWednesday tips round-up: TUI Travel, DSG International, Pendragon...
11th Aug 2010 06:44
While the short-term looks a little gloomy, tour operator TUI Travel is adamant it is well-placed for medium-term prosperity. Meanwhile, the collapse of Goldtrail Travel has cut capacity and highlighted the benefits of fully protected package holidays. The 10% fall in the shares ? down 22½p to 203
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