LONDON -- Trading at Britain's biggest car dealer remains buoyant, Pendragon Plc said on Wednesday as it posted a 71 percent rise in first-half profit.
The firm also said it was ahead of schedule with the integration of former rival CD Bramall, which it bought for 230 million pounds ($420 million) in January to boost its position at the luxury end of the market and to strengthen its volume business.
"The benefits are already flowing through," chief executive Trevor Finn said in a statement.
Pendragon's pretax profit rose to 40.6 million pounds in the six months to end-June, on turnover up 69 percent to 1.6 billion pounds. The interim dividend was raised 10.5 percent to 4.2 pence.
"The UK market for new cars has been relatively stable over the past few years and 2004 has continued the trend," Finn said.
Pendragon said its U.S. dealerships delivered a 44 percent improvement in underlying first-half profitability. "(But) the performance of our small German operation reflects the poor general economic situation in that market".