30th Jul 2020 11:39
Inchcape PLC - London-based automotive distributor and retailer - Despite the company's performance up to the end of February being ahead of internal expectations, the impact of Covid-19 weighed heavily with closures across the board. Revenue for half-year that ended June 30 dropped 36% to GBP3.01 billion from GBP4.47 billion a year before. Inchcape swung to a pretax loss of GBP188 million from a GBP154 million profit a year before. Before exceptional items, pretax profit still plummeted 94% to GBP9 million from GBP156 million. Inchcape will skip paying an interim dividend to preserve cash and withhold guidance until the economic climate becomes clearer.
Current stock price: 435.00
Year-to-date change: down 38%
By Greg Roxburgh; [email protected]
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