Britain’s biggest automotive retailer Pendragon, which includes five Stratstone-branded motorcycle dealerships in its chain of more than 250 outlets, has declared improving sales and profit in half-yearly financial results to 30 June.
Group sales revenue was up by five per cent to £2bn, against a background of ten per cent growth in the UK new car market during that period. New cars account for almost half of Pendragon’s sales. Underlying pre-tax profit was up by 24 per cent to £23.6m. However actual pre-tax profit fell by 23 per cent as the company had to absorb an £8m charge from refinancing its debt.
Pendragon’s bike dealer portfolio is made up of solus Harley-Davidson showrooms in Stoke-on-Trent, Wolverhampton and Birmingham, and solus Triumph showrooms in Leicester and Wolverhampton. Its Harley operations undoubtedly helped boost these results, given Harley posted a 20 per cent UK sales rise in the first half of this year.