REG - Inchcape PLC - Trading Statement

InchcapeAnnouncement

16/06/2022 07:00

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RNS Number : 0447P  Inchcape PLC  16 June 2022

16 June 2022

 

This announcement contains inside information

Inchcape plc

Trading Update

Inchcape plc ("Inchcape" or "the Group") today provides a trading update.

 

Following our Q1 update on the 28 April 2022, the Group has continued to
perform strongly, with results exceeding our expectations.

 

The better than expected performance is primarily driven by the Distribution
business, where we have delivered continued quarterly improvement in new
vehicle volumes and an operating margin above second half 2021. We also have
greater confidence in relation to our second half performance based on the
strength of order books in our markets and an improved outlook for supply.

 

Based on the performance to date and our expectation for the second half, we
expect to deliver FY22 PBT from continuing operations(1) between £350m and
£370m (published market consensus: £301m) at prevailing exchange rates(2).

 

The Group's interim results will be published on 28 July 2022.

 

 

1: excluding any contribution from Russia

2: translational currency tailwind of c.£10m versus 2021

 

Ends

 

 

Inchcape plc - Investor Relations

Raghav Gupta-Chaudhary +44 (0)7933 395 158, investors@inchcape.com
(mailto:investors@inchcape.com)

 

 

Media enquiries (Brunswick Group)

Helen Smith / Chris Birt +44 (0)20 7404 5659, inchcape@brunswickgroup.com
(mailto:inchcape@brunswickgroup.com)

 

 

About Inchcape

Inchcape is the leading independent multi-brand global automotive distributor,
operating in over 40 markets and territories with a portfolio of the world's
leading automotive brands. Inchcape has diversified multi-channel revenue
streams including sale of new and used vehicles, parts, service, finance and
insurance. The Company has been listed on the London Stock Exchange (INCH)
since 1958, and is classified within the 'Business Support Services' sector.
The Group is headquartered in London and employs around 14,500 people
globally. www.inchcape.com (http://www.inchcape.com)

 

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