Shares at car dealership group Pendragon surge 15%

Car dealer Pendragon's shares rallied by 15 per cent during morning trading, despite the company experiencing a slump in full year profits of 20 per cent. City investors responded positively to the company confirming that its new strategy will focus on the sale of used cars.Although underlying pre-tax profits fell to £60.4 million in 2017, Pendragon's total revenue was up 4.5 per cent to £4.7 b...