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Thursday, 17 February 2005 |
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Pendragon, the UK's largest dealer group, has reported a sharp rise in profits following its acquisition of CD Bramall last year.
Preliminary results show pre-tax profits rose 47 per cent to £65 from £44m in the 12 months to 31 December 2004 while turnover rose to £3.2bn from £1.8bn. Chief executive Trevor Finn was confident that a programme to reduce debut and roll out a new technology platform to a large part of the group would be successful in 2005. He said: “Our acquisition of CD Bramall, completed in February last year, has significantly increased our earnings.”
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