Pendragon slashes deficit 79% after discount rate rise

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Pendragon has seen its defined benefit (DB) deficit fall £23.5m in the first six months of 2013 after favourable scheme assumptions, its interim results show.

Announced on the stock exchange, the owners of car retailers Evans Halshaw and Stratstone reported a December 2012 scheme deficit of £29.8m. However, after the discount rate used to calculate liabi...

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