16 February 2016 – final results
Although the market was not particularly impressed by Pendragon’s final results we believe it was a solid set of numbers. Revenue was up 11.3% to £4,454m (2014: £4,000m) and profit before tax was £70.1m versus £60.2m a year earlier. This translated into earnings per share of 3.7p versus 3.1p. A final dividend of 0.7p per share takes the total to 1.3p per share for the year, up 44.4%. We believe the share price is now too low and reiterate our BUY advice.