10th May 2007 07:01
Inchcape PLC10 May 2007 10 May 2007 Inchcape AGM Trading Statement In his statement to shareholders at today's Annual General Meeting, PeterJohnson, Chairman of Inchcape plc, will make the following comments abouttrading. "The trading performance of the Group for the first quarter is in line with ourplans and accordingly our expectations for the full year remain unchanged. Total sales for the first quarter of 2007 are up 26% on a constant currencybasis (23% in sterling terms). Of this increase 14 percentage points representsthe contribution of European Motor Holdings from the date of acquisition to 31March 2007 and a further 9.1 percentage points represents other acquisitions andnew retail centre openings in 2006. Like for like sales for the first quarter are up 2.9% on a constant currencybasis and in sterling terms are in line with the prior year. Following the acquisition of European Motor Holdings plc at the end of January2007, I am pleased to report the integration of that business into the InchcapeUK Retail organisation is proceeding in line with our plans." For further information, please contact: Group Communications, Inchcape plc +44 (0) 20 7546 0022 Investor Relations, Inchcape plc +44 (0) 20 7546 8432 Financial Dynamics (Jonathon Brill/Billy Clegg) +44 (0) 20 7831 3113 Notes to editors Inchcape plc is the leading independent, international automotive retailer, withscale operations in Australia, Belgium, Greece, Hong Kong, Singapore and theUK. The Group also has operations in a number of other markets, includingEastern Europe, the Baltics, Russia and South America. In addition to growingits core businesses, Inchcape is looking to develop scale operations in new andemerging regions. It represents leading automotive brands and operates either aretail, or a vertically integrated retail model (i.e. exclusive distribution andretail), depending on the market. Inchcape's core brand partners are Audi, BMW,Honda, Mazda, Mercedes-Benz, PAG, Subaru, Toyota/Lexus and Volkswagen. For further information, visit us at www.inchcape.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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