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Car dealership chain Pendragon launches review after loss

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(Reuters) – Pendragon said on Wednesday it would review its operational and financial prospects under its new management after margin pressures led it to report an underlying loss before tax of 2.8 million pounds in the three months ended March.

The British car dealership chain blamed challenging trading conditions during the period which resulted in a reduction in margins in new, used and aftersales of cars.

Pendragon’s shares were 13.5 percent lower at 21.9 pence in early trade.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Gopakumar Warrier)

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