AGM Statement

RNS Number : 5871U

Pendragon PLC

26 June 2009

 



26 June 2009

Annual General Meeting Statement

Pendragon PLC ('Pendragon') held its Annual General Meeting at 11.30am today, where the following statement was made by Sir Nigel Rudd, Chairman:-

'Overall, the UK market for new vehicle sales has been in line with our expectations for the first five months of the year. We anticipated, and have seen, a gradual return to more normal markets for used car sales and our after sales business continues to perform satisfactorily.

We have ensured that our cost base is kept in line with activity levels in order to deliver planned cost savings this year. We have also continued to improve our working capital management routines and maintain focus on cash generation.

We anticipate that the UK market will remain challenging for the remainder of the year and our expectations relating to the overall performance of the Group remain unchanged.

The interim results of the Group will be announced on 18 August 2009'.

Pendragon is also pleased to announce that all of the resolutions set out in the Notice of Annual General Meeting dated 26 May 2009 were duly passed at the Annual General Meeting held today. 

Enquiries:

Pendragon PLC:                  Trevor Finn, Chief Executive                       Tel: [phone]

                   David Forsyth, Finance Director

Finsbury:                              Rollo Head/Gordon Simpson                         Tel: [phone]

26 June 2009

               -ENDS-

 

END

 

 

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