StockMarketWire.com - Auto dealer Pendragon posted a rise in third-quarter profit after cost control helped buffer the company from a fall in sales.

Underlying pre-tax profit for the three months through September rose to £3.0m, up from £1.1m on-year.

The rise came even as like-for-like revenue fell 3.6%, led by a 17% drop in used car sales.

Like-for-like operating costs and interest fell 8.0%.

'Whilst the improved performance during the period is encouraging, we continue to expect economic and market conditions to be challenging, with the ongoing uncertainty around Brexit impacting consumer confidence,' Pendragon said.

'The full-year underlying loss before tax remains in line with the board's expectations.'




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