AI Terminal
Inchcape PLC
Earnings Release • Jun 16, 2022
4630_rns_2022-06-16_6ff20c33-9af5-4cd5-891b-27ad256e43fc.html
Earnings Release
Open in ViewerOpens in native device viewer
National Storage Mechanism | Additional information 
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 operations1 between £350m and £370m (published market consensus: £301m) at prevailing exchange rates2.
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, [email protected]
Media enquiries (Brunswick Group)
Helen Smith / Chris Birt +44 (0)20 7404 5659, [email protected]
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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
TSTEAKKSFFDAEFA