Edition:
India

Pendragon Says Underlying PBT For FY19 To Be A Small Loss


Wednesday, 12 Jun 2019 

June 12 (Reuters) - Pendragon PLC ::OUTCOME OF FINANCIAL & OPERATIONAL REVIEW.MANAGEMENT TEAM UNDERTAKEN A BUSINESS BY BUSINESS REVIEW TO DETERMINE EXPECTED UNDERLYING OPERATING PERFORMANCE FOR REMAINDER OF YEAR.MARKET REMAINS CHALLENGING, WITH SMMT REPORTING A DECLINE IN NEW CAR REGISTRATIONS OF 3.1% YTD TO MAY.FY19 PERFORMANCE IS EXPECTED TO BE IMPACTED FURTHER BY CERTAIN INTERNAL OPERATIONAL CHALLENGES.NOW EXPECT GROUP UNDERLYING PBT FOR FY19 TO BE A SMALL LOSS (PRE DISPOSAL OF US MOTOR GROUP).FIRST-HALF OF FY19 EXPECTED TO BE SIGNIFICANTLY LOSS MAKING AHEAD OF RETURNING TO OVERALL GROUP PROFITABILITY FOR SECOND-HALF.