28th Jul 2016 08:01
LONDON (Alliance News) - Inchcape PLC on Thursday reported better in profit in the first half of 2016 as sales grew in five of its six operating regions.
The automotive distributor and retailer said its pretax profit in the first half rose to GBP165 million from GBP153 million the year before, as revenue edged up to GBP3.8 billion from GBP3.4 billion.
Inchcape sales grew in emerging markets, the UK, South Asia, Europe and Australasia, but declined in North Asia due to reduced consumer and corporate confidence, it said.
Inchcape will pay an interim dividend of 7 pence, up from 6.8p the year before.
"I remain very excited about the long-term potential of Inchcape as we deliver on our five strategic objectives: leading in customer experience, delivering the full potential from all of our revenue streams, becoming the OEMs' partner of choice, leveraging our scale and investing to accelerate growth," Chief Executive Stefan Bomhard said in a statement.
Shares in Inchcape were trading up 1.1% at 727.50 pence on Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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