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After a well-documented and turbulent year, car retailer Pendragon has published its full year results.

The business, Nottingham’s second largest company and listed as the second largest motor retailer in the º£½ÇÊÓƵ, showed significant losses of £117.4 miillion after tax - almost £70 miillion more than last year when it lost £50.5 miillion.

In 2019 the Annesley-based company closed 22 underperforming Car Stores and says it implemented better management of used vehicle inventory and tackled operational cost management, which resulted in a better second half to the year for the Nottingham based firm.

While it reported underlying pre-tax losses of £32.2 million for the first six months of 2019, compared to profits of £28.4 million a year prior, underlying profit in the second half of the year stands at £15.8 miillion.

As well as the Car Store brand, Pendragon also has a number of other brands including Evans Halshaw and Stratstone.

At year end, group revenue for 2019 stands at £4,506.1 million, an underlying loss of £16.4 miillion.

Bill Berman, CEO, said focused on the brighter second half of 2019 as he said: “Despite having only been with the business for a short period of time, it is clear this is a company with great potential and a very strong team.

"2019 was a year of transition for the Group that played out against challenging market conditions, however, we returned to profitable growth in the second half and this provides us with a solid platform for the coming year. At the moment, we are closely monitoring the impact of COVID-19 on the economy as the situation continues to develop.