UK Stock Market News Today – 13-Feb-2018
Pendragon (PDG) – 20.9p – £297.6m – PER 6.02
Results For The 12 Months To End December 2017 – Well, someone was obviously paid well to make these as unclear as possible. Looks like Revenue up about 5% (£4,739m) with PBT down 10% (£65.3m). EPS is down a few percent to 3.7p. Expects 2018 to be in-line with expectations.
This latest update is probably a little better than expected. This is in real value territory here, the yield is a well covered 7% and the PER is just 6. 2 obvious downsides, the Net Debt and the industry in general. Get over those 2 and it’s not looking so bad. Actually Pendragon (PDG), Vertu Motors (VTU), Cambria Automobiles (CAMB) and Lookers (LOOK) all seem quite cheap at the moment. Tempting but perhaps not just yet.
Can’t find much else so that’s it from me this morning.