31 October 2014 – interim management statement
The company has unveiled a trading update covering the third quarter and, given the progress which has been made, results for the full year are now set to be ahead of expectations. Stratstone, Evans Halshaw and Quicks have all performed ahead of the prior year and support businesses continue to provide stable ongoing revenue. The number of visitors to Stratstone.com, Evanshalshaw.com and Quicks.co.uk increased by 16.8% in the period. Pendragon also launched ‘Sell Your Car’, in direct competition with webuyanycar.com, in the quarter with 29 retail points. This allows consumers to sell their car direct to Evanshalshaw.com at a more attractive price. We believe that the shares remain a BUY.