Contracts
The three brands under which retailer Pendragon
operates its fleet leasing and management business – Bramall
Contracts, Pendragon
Contracts and Vardy
Contract Motoring – saw their combined fleet fall by 600 units
to 17,600 by year-end 2007.
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Gross profit for 2007 rose slightly to £13m, from £12.1m in
2006, an improvement Pendragon ascribed to better results in the
disposal side of the business. “Profits are mainly generated
through the sale of the vehicles at the end of the rental period
and have improved on last year as we have reduced our exposure to
12 month contract business, which has historically had lower
returns,” said Pendragon chief executive Trevor
Finn.
Green appeal seals van fleet deal
Pendragon Contracts has won a deal to supply vans to Rexel
Senate and Denmans, an electrical wholesaler which operates 220
vehicles from 170 locations across the UK.
The current fleet of Iveco diesel vans will be replaced by
Vauxhall’s Vivaro and Movano models, which are less environmentally
damaging.
Andy Barrell, Pendragon’s head of national accounts said:
“Rexel Senate decided that it needed to update its vehicles, and we
worked very hard to demonstrate that we could deliver the best
possible fleet solution to the company’s needs.”
Motor Finance Issue: 41 – March 08
Published for the web: March 27 08 17:10
Last Updated: March 28 08 17:29
