Blog: Dave LeggettUK retail gloom lifting?

Dave Leggett | 25 August 2009

Interesting to hear the other day about the testing times in the UK retail sector when Pendragon's latest results came out. Golding's analysis suggests that the grand design has been traded in for simple survival, with the axe taken to the cost base. The share price trend for Pendragon - below chart - shows that sentiment has perked up a bit lately.

At least the gloom has been lifted a little by the UK car scrappage scheme and higher margins on used cars. Will more money be found for the scrappage scheme (in danger of running out of funds by November) from UK Gov's coffers? I'd be surprised if not. We can't afford it but it's probably a case of 'what the hell'.

View the full PDG.L chart at Wikinvest

GOLDING’S TAKE: The bigger car retailers are, the harder they fall


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