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Pendragon misses guidance

Pendragon misses guidance

What Pendragon (PDG) calls “macro newsflow” – and the adverse effect it’s had on its recent financial performance – is open to interpretation. Most likely, it refers to the continued political and economic uncertainty regarding the UK’s departure from the European Union (EU), which has coincided with a prolonged period of poor consumer confidence and a subdued new car market. The latter is naturally cyclical, but demand issues – it’s not unfair to assume – have been exacerbated by weak sterling and an unclear future when it comes to vehicle imports and exports.

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