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Auto dealer Pendragon upgraded its first-half profit guidance and reinstated its guidance for the full year, citing a recovery in demand.
Underlying pre-tax profit for the six months through June was now expected to be around £30 million, swinging from a year-on-year underlying loss of £31 million.
Pendragon said it had experienced particularly strong trading conditions in May and June.
It said that although uncertainty remained as it moved into the second half, including from potential Covid-19 disruptions and vehicle supply constrains, it now had more visibility on its outlook.
For the full year, it forecast underlying pre-tax profit in a range of around £45 million-to-£50 million, up from £8.2 million year-on-year.
'The board continues to believe that the group's strategy positions it well to respond to the ongoing market uncertainty and remains confident in the long-term outlook,' the company added.