21st May 2015 06:58
LONDON (Alliance News) - Automotive retailer and distributor Inchcape PLC on Thursday said it has started 2015 in line with its expectations on the back of growth across its markets and solid demand in both its vehicles and aftersales businesses.
FTSE 250-listed Inchcape said its revenue in the four months to the end of April was GBP2.19 billion, down 0.9% year-on-year due to the weakness of the euro but up 4.1% in constant currencies. Like-for-like revenue was down by 0.3% in the period, but up 4.9% in constant currencies.
Demand for vehicles in the period was solid, Inchcape said, while Aftersales activity, which contributes half of the company's gross profit, performed well and in line with its expectations.
"The group's high quality distribution and retail businesses are well positioned in the most attractive segments of a global growth industry. Coupled with our operational rigour focused on driving performance and unique local growth drivers, the first four months of 2015 have seen positive trading momentum in line with our expectations," said Chief Executive Stefan Bomhard.
By Sam Unsted; [email protected]; @SamUAtAlliance
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