Announcing its interim results the group said profits before exceptionals climbed to £42.3m from £36.8m in the same period last year and Reg Vardy had made a “significant contribution”.
Pendragon chief executive Trevor Finn added: “While we expect the UK car market to remain tough for the remainder of 2006, we are confident of further progress within the group as we continue to grow the business and integrate Reg Vardy.''
According to press reports Pendragon is still on the acquisition trail and could be looking to make as many as 50 small purchases in the UK.
The reports also suggest that Pendragon has not ruled out another move on Lookers, although this is thought to be unlikely until it has paid off more of the £500m it borrowed to acquire Reg Vardy in February.
Separately, the Office of Fair Trading confirmed the group would not be referred to the Competition Commission following its acquisition of Reg Vardy.
However, the OFT said it was still concerned about the reduction of competition for new car servicing in four geographical areas and Pendragon has offered to divest a number of sites as
a result.