22nd Oct 2015 06:48
LONDON (Alliance News) - Vehicle distributor and retailer Inchcape PLC said on Thursday said trading in the third quarter was in line with its expectations, despite the group's revenue taking a currency translation hit.
The FTSE 250-listed company said its group revenue for the third quarter was GBP1.74 billion, up 2.5% year-on-year but up by 9.4% in constant currencies. Like-for-like revenue in the quarter to the end of September was up 3.1% and by 10% in constant currencies.
Vehicle demand has remained strong, Inchcape said, as the group benefited from a structurally sound market.
Aftersales revenue also has been strong, the company said, with gross profit in line with its expectations.
"Our growth continues to be supported by the group's strong portfolio of distribution and retail businesses, in attractive markets, across five continents, where we typically have strong long-standing positions. In line with our earlier expectations, we are set to deliver a robust underlying constant currency performance in 2015," said Chief Executive Stefan Bomhard.
By Sam Unsted; [email protected]; @SamUAtAlliance
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