23rd Oct 2007 07:01
Inchcape PLC23 October 2007 23 October 2007 Inchcape plc Third quarter trading update Inchcape plc, the world's leading car retailer, today provides a third quarter trading update. The trading performance of the Group continues to be in line with expectations. Total sales for the three months to 30 September 2007 were up 20.2% on aconstant currency basis (19.8% in sterling terms). For the nine months to 30September 2007, sales were up 27.5% on a constant currency basis (25.6% insterling terms). Like for like sales for the three months to 30 September 2007were up 3.3% and for the nine months to 30 September 2007 were up 3.1%, both ona constant currency basis. Since the interim results we have continued to implement our growth strategy inemerging markets announcing two more retail centre acquisitions in StPetersburg, Russia totalling £21m. We have also completed several non-core UKdisposals totalling £22.6m. We continue to look at expansion opportunitiesacross all of our target markets. We remain confident in our prospects for the full year. endsGroup 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 the UK.The Group also has operations in a number of other markets, including EasternEurope, the Baltic's, Russia and South America. In addition to growing its corebusinesses, Inchcape is looking to develop scale operations in new and emergingregions. It represents leading automotive brands and operates either a retail,or a vertically integrated retail model (i.e. exclusive distribution andretail), depending on the market. Inchcape's current key manufacturer partnersare Toyota/Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi and Honda. 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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