Inchcape plc

Highlights

29th July 2010

Robust recovery of the Group’s earnings with 76%* PBT growth

Inchcape plc, a leading international automotive distributor and retailer, announces its half year results for the period ended 30 June 2010.

Operational & strategic highlights:

· Solid revenue growth due to strength of international portfolio and diversified revenue streams

· Trading profit growth of 45.2% driven by progress in most regions

· 62% of trading profit from Asia Pacific and the Emerging Markets

· Strong operational leverage delivers a trading margin of 4.3%,100bps ahead of last year

· Good cash conversion: £84.9m of net cash at period end

Financial highlights:

· Reported sales £3.1bn (2009: £2.8bn), up 11.1% in actual currency and up 7.9% in constant currency

· Pre exceptional PBT £115.2m (2009: £65.4m), up 76.1% in actual currency and up 67.7% in constant currency

· Reported PBT £115.2m (2009: £47.0m)

· Adjusted EPS* 17.2p (2009: 12.7p), up 35.4%

· Reported EPS 17.2p (2009: 7.3p), up 135.6%

· Operating cash flow £104.5m (2009: £272.0m)

* before exceptional items

André Lacroix, CEO of Inchcape plc, commented:

“We have delivered a robust recovery with PBT* up 76% in the first half of the year, which is a testament to the strength of Inchcape’s broad geographic portfolio and diversified revenue streams. We benefited from the positive impact of operational leverage with strong vehicle revenues driven by industry growth and market share gains in many of our markets and good momentum in our Aftersales business which represents half of the Group’s gross profit.

“Inchcape’s competitive position continues to improve through our strategic commitment to superior customer service enabled by our operational focus on our Top Five Priorities of growing market share, growing Aftersales, reducing costs, managing working capital and selective capital expenditure investment.

“The Group has started to benefit from the industry recovery in several of its markets. We expect the continuation of an uneven global recovery and so remain cautious for the second half of 2010. Austerity measures implemented by a number of European governments including the UK may affect consumer confidence and slow down the global recovery that is being driven by strong growth in Asia Pacific and the Emerging Markets. Nonetheless, we currently expect the Group will deliver another strong performance in 2010.

“Given our trading performance and the strong financial position of the Group, the Board intends to recommend a final dividend for the current financial year.

“We are uniquely positioned worldwide as a leading international automotive distributor and retailer, operating in strong economies around the world with 62% of our trading profit coming from Asia Pacific and the Emerging Markets.”

Dowload full Interim Report 2010

Group Communications, Inchcape plc Investor Relations, Inchcape plc

+44 (0) 20 7546 0022 +44 (0) 20 7546 8209

Financial Dynamics (Jonathon Brill/Billy Clegg)

+44 (0) 20 7831 3113

Notes to editors

About Inchcape:

Inchcape is a leading, independent international automotive distributor and retailer operating in 26 markets. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance.

Inchcape’s vision is to be the world’s most customer-centric automotive retail group and represents some of the world’s leading automotive brands, including Toyota, Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi, Honda, Land Rover and Jaguar.

Inchcape, which has been listed on the London Stock Exchange since 1958, is headquartered in London and employs around 14,300 people.

www.inchcape.com

André Lacroix, Inchcape Group Chief Executive, gave a presentation about how Inchcape delivers higher retail standards in its operations at the Society of Motor Manufacturers and Traders’ (SMMT) second International Automotive Summit held on 30th June, 2010.

Download the presentation

Link to the SMMT website

13 May 2010

Inchcape plc AGM and Interim Management Statement

“A good start to the year”

Inchcape plc, a leading international automotive distributor and retailer, will hold its AGM today, where the following statement will be made regarding its current trading and financial position, as required by the UK Listing Authority’s Disclosure and Transparency Rules. It covers the period from 1 January 2010 to 12 May 2010. Unless otherwise stated, figures quoted in this statement are for the quarter ended 31 March 2010.

Trading for the first quarter ended 31 March 2010

Total revenues were up by 13.0% in actual currency (up by 10.6% in constant currency) compared to the same period last year. Like for like revenues were up by 14.8% in actual currency (up 12.4% in constant currency).

Revenues from new car sales were stronger than expected in several of our markets. Used car margins remained robust and our aftersales business, which typically represents approximately 50% of the Group’s gross profit, continued to perform well.

Our cost base remains well controlled and we continue to benefit from lower financial costs as we exited 2009 debt free.

Regional Commentary

Our UK performance was strong, as we gained share in a new car market that was up by 27% in the first quarter and as we benefited from continued robust used car margins. We expect a weaker new car market for the rest of this year as the scrappage scheme is now complete.

Our European businesses delivered a solid performance as we gained share in markets that were ahead of our expectations. While we expect a stable demand for vehicles in Belgium and Finland, we should see a weaker market in Greece in the rest of the year due to the economic uncertainty.

In Asia, as expected we faced a very challenging market in Singapore where the demand for new cars was 27% below last year due to the rapid increase of COE prices. However, we enjoyed an excellent start to the year in Hong Kong with market share gains in a new car market which was up by 56% in the first quarter

Consumer demand for new vehicles remained significantly below last year in Eastern Europe and Russia where the markets were respectively 18% and 25% below last year.

We delivered a good performance in Australia where the new car market was up by 18% and continued the recovery that started in the fourth quarter of 2009. Our market share performance remained strong and our Retail business continues to enjoy good momentum.

Financial Position

Our working capital and inventory management are in line with our expectations. Our financial position remains strong.

Outlook

Our first quarter performance was stronger than expected although our revenue growth was delivered against weak comparatives in 2009. We remain cautious for the remainder of the year as demand for new cars will remain below last year in several core markets and we still do not expect any sustained global car market recovery to start until well into the second half of 2010. We are confident however that the Group will continue to improve its competitive position and further strengthen its balance sheet despite these challenging market conditions.

André Lacroix, Group CEO of Inchcape plc, said:

“We are pleased with our first quarter performance, as we enjoyed our second consecutive quarter of like for like revenue growth at constant currency since the start of the global downturn in the fourth quarter of 2008. This strong performance demonstrates the strength of Inchcape’s global portfolio, as the Group has seen stronger demand for new vehicles in several markets around the world.

Inchcape continues to benefit from its diversified revenue streams and is uniquely positioned moving forward to take advantage of the global industry recovery as we focus on our five Group wide priorities of growing market share and aftersales while improving margins, controlling working capital and being selective about capital investments.”

Ends

Group Communications, Inchcape plc
+44 (0) 20 7546 0022

Investor Relations, Inchcape plc
+44 (0) 20 7546 8209

Financial Dynamics (Jonathon Brill/Billy Clegg)
+44 (0) 20 7831 3113

Notes to editors

About Inchcape:
1. Inchcape is a leading, independent international automotive distributor and retailer operating in 26 markets. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance.

Inchcape’s vision is to be the world’s most customer-centric automotive retail group and represents some of the world’s leading automotive brands, including Toyota, Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi, Honda, Land Rover and Jaguar.

Inchcape, which has been listed on the London Stock Exchange since 1958, is headquartered in London and employs around 15,000 people.

www.inchcape.com

2. Statements made in this announcement that look forward in time or that express management’s beliefs, expectations or estimates regarding future occurrences are “forward-looking statements” within the meaning of the United States federal securities laws. These forward-looking statements reflect the Group’s current expectations concerning future events and actual results may differ materially from current expectations or historical results.

3. Conference call for Analysts and Investors

For details please contact Lucy Schwerdtfeger at Financial Dynamics on +44 (0)20 7269 7267

4. The next trading update is expected to be the interim results on 29 July 2010.

13 May 2010

The Company announces that all resolutions proposed at the annual general meeting of the Company held earlier today were passed.

Among the resolutions passed were resolutions (i) to consolidate the existing ordinary shares of one penny each in the capital of the Company (the “Existing Ordinary Shares”) in issue or held in Treasury into new ordinary shares of 10 pence each in the capital of the Company (the “New Ordinary Shares”) on the basis of one New Ordinary Share for 10 Existing Ordinary Shares; and (ii) to adopt new articles of association.

The record time for the share consolidation is close of business on 14 May 2010 and application has been made for the Company’s listing to be amended so that the New Ordinary Shares are admitted to the Official List and to trading on the main market of the London Stock Exchange with effect from 8.00 a.m. Monday, 17 May 2010. We will release a further announcement to confirm when this has taken place.

With the exception of the resolutions referred to in the above paragraph, all of the resolutions put to the meeting related to ordinary AGM business. Copies of the resolutions referred to in the above paragraph have been forwarded to the FSA for publication through the document viewing facility, in accordance with LR 9.6.2.

Details of the votes cast on all resolutions are set out in the download below:

Download Results pdf

Ends

Group Communications, Inchcape plc
+44 (0) 20 7546 0022

Investor Relations, Inchcape plc
+44 (0) 20 7546 8209

Financial Dynamics (Jonathon Brill/Billy Clegg)
+44 (0) 20 7831 3113

www.inchcape.com

Notes to editors

About Inchcape:

Inchcape is a leading, independent international automotive distributor and retailer operating in 26 markets and has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, and finance and insurance.

Inchcape’s vision is to be the world’s most customer-centric retailer and represents some of the world’s leading automotive brands, including Toyota, Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi, Honda, Land Rover and Jaguar.

Inchcape, which has been listed on the London Stock Exchange since 1958, is headquartered in London, employs around 15,000 people and has scale operations in the UK, Singapore, Australia, Hong Kong, Greece, Belgium and Russia.

2009 Annual Results Announcement

10th March 2010

Inchcape plc

2009 Annual Results Announcement

Record cash generation - Inchcape well positioned for future

Inchcape plc, a leading international automotive distributor and retailer, announces its annual results for the year ended 31 December 2009.

Operational and strategic highlights:

· Improved competitive position with further progress on customer service and market share

· Benefited from broad geographic spread

· Margin benefit from counter-cyclicality of used cars

· Resilient performance in aftersales, c.50% of Group gross margin

· Successful restructuring programme delivered cost saving of c.£70m

· Strengthened financial position, Group now debt free

Financial highlights:

· Reported sales of £5.6bn (2008: £6.3bn)

· Pre exceptional PBT £155.1m (2008: £190.7m)

· Reported PBT £136.7m (2008: £108.2m)

· Adjusted EPS* 2.7p (2008: 5.0p)

· Reported EPS* 2.3p (2008: 1.9p)

· Operating cash flow £336.7m (2008: £183.7m)

· Successful Rights Issue raised £234.3m net proceeds

*Adjusted to reflect the Rights Issue

André Lacroix, CEO of Inchcape plc, commented:

“The Group has delivered a resilient financial performance with record operating cash flow, demonstrating the success of our responsive management of the global downturn and the defensive strengths of Inchcape’s unique business model.

We have strengthened our competitive position despite the weak demand for new vehicles across most of our markets, through a balanced focus on delivering high levels of customer service, growing market share, growing aftersales, reducing costs, managing working capital and selective capital expenditure investment.

In the second half of 2009 we saw strong growth in the UK, where we have continued to outperform the industry and both the Australian and Hong Kong markets have started to recover.

In 2010, we expect to benefit from continued market momentum in Hong Kong and Australia and stable industry in Belgium and Finland but we also continue to anticipate market declines in the UK, Greece, Singapore, Eastern Europe and Russia.

We therefore remain cautious for 2010 and do not expect a global recovery to start until well into the second half of this year given consumer confidence is still weak and unemployment continues to rise in many of our key markets. Nevertheless, we believe that the Group has the financial strength and flexibility both to continue to trade effectively and to further improve its competitive position.

We remain confident in our ability to deliver a robust performance in 2010 and we are uniquely positioned to benefit from the recovery in global demand.”

Ends

Group Communications, Inchcape plc
+44 (0) 20 7546 0022

Investor Relations, Inchcape plc
+44 (0) 20 7546 8209

Financial Dynamics (Jonathon Brill/Billy Clegg)
+44 (0) 20 7831 3113

www.inchcape.com

Notes to editors

About Inchcape:
Inchcape is the leading, independent international automotive distributor and retailer operating in 26 markets. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance.

Inchcape’s vision is to be the world’s most customer-centric automotive retail group and represents some of the world’s leading automotive brands, including Toyota, Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi, Honda, Land Rover and Jaguar.

Inchcape, which has been listed on the London Stock Exchange since 1958, is headquartered in London, employs around 15,000 people.

www.inchcape.com

Download the full press release

17 December 2009 - Inchcape plc

“2009 slightly ahead of expectations”

Inchcape plc, the leading independent international automotive distributor and retailer, makes the following statement on trading prior to entering its close period for the year ending 31 December 2009. We will announce our annual results for the year ended 31 December 2009 on 10 March 2010.

Trading for the 11 months ended 30 November 2009

Trading performance remains strong despite challenging market conditions and the Group is expected to close 2009 slightly ahead of our expectations.

Total revenue for the eleven months to November 2009 is 11.4% below last year in actual currency and 17.5% below last year in constant currency. For the same period, our like for like revenue is down against last year by 9.4% in actual currency and 15.6% in constant currency.

In the second half of 2009, Group revenues are benefiting from a strong demand in New Cars in the UK and the early signs of an industry recovery in Hong Kong and Australia.

Our gross margin performance remains robust and we continue to benefit from good Used Car margins in several markets. Our After Sales business, which represents half of Group gross profit, is performing well.

Our cash flow generation remains strong and our cost base and working capital are well below levels at the end of last year.

Regional Commentary

Our UK retail business is enjoying a stronger than expected fourth quarter: New Car sales are significantly ahead of last year as we continue to benefit from the scrappage incentive scheme and from the VAT increase in 2010 pulling forward demand in the premium sector; margins on Used Cars currently continue to remain at the exceptionally high level we saw in the first nine months of 2009.

In Europe, the underlying demand for new vehicles remains weak.

Markets in Eastern Europe and Russia continue to be challenging but our competitive position is improving.

The market recovery in the last two months in Hong Kong has been ahead of our expectations and our margin performance in Singapore is healthy despite an extremely weak market.

In the last two months we have seen the early signs of an industry recovery in Australia where we continue to grow market share.

Financial Position

The financial position of the Group remains strong and we maintain our previous guidance of being broadly debt free at the end of 2009.

Despite an unprecedented downturn in the global car market, the Group operating cash flow is expected to be well ahead of last year, demonstrating the impact of our self-help measures and the continued cash resilience of the Inchcape business model.

Outlook

Although the Group financial performance is expected to be slightly ahead of previous expectations as a result of a strong fourth quarter, we continue to remain cautious for 2010. As stated previously, we do not expect any global car industry recovery to start until well into the second half of 2010 as consumer confidence is still weak and unemployment continues to rise in many of our markets. However, we are confident that the Group has the financial strength and flexibility to trade effectively and to continue to gain market share.

Commenting on the statement, André Lacroix, Inchcape plc Group CEO said:

“In 2009, the Group has improved customer service globally and we have gained share in many of our markets, while cutting costs and reducing inventory to mitigate the effects of an unprecedented global downturn in the car industry.

Our strong performance demonstrates the resilience of Inchcape’s business model. We continue to benefit from scale operations across a broad geography, our Customer 1st strategy, the superior quality of our operating processes and the entrepreneurial spirit of our people.

Inchcape is uniquely positioned in the global car industry and in 2009 the Group has continued to outperform its competitors. While we continue to expect market conditions in 2010 to remain challenging, the Group is well placed to benefit from the market recovery and to take advantage of industry consolidation opportunities in the medium term.”

Ends

Group Communications, Inchcape plc

+44 (0) 20 7546 0022

Investor Relations, Inchcape plc

+44 (0) 20 7546 8209

Financial Dynamics (Jonathon Brill/Billy Clegg)

+44 (0) 20 7831 3113

Notes to editors

1. About Inchcape:

Inchcape is the leading, independent international automotive distributor and retailer operating in 26 markets. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance.

Inchcape’s vision is to be the world’s most customer-centric automotive retail group and represents some of the world’s leading automotive brands, including Toyota, Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi, Honda, Land Rover and Jaguar.

Inchcape, which has been listed on the London Stock Exchange since 1958, is headquartered in London employs around 15,000 people.

www.Inchcape.com

2. Statements made in this announcement that look forward in time or that express management’s beliefs, expectations or estimates regarding future occurrences are “forward-looking statements” within the meaning of the United States federal securities laws. These forward-looking statements reflect the Group’s current expectations concerning future events and actual results may differ materially from current expectations or historical results.

Inchcape upgrades guidance for 2009

This statement is an Interim Management Statement in accordance with the UK Listing Authority’s Disclosure and Transparency Rules. It covers the period from 1 July 2009 to 19 October 2009. Unless otherwise stated, figures quoted in this statement are for the quarter ended 30 September 2009.

Current trading for the three months ended 30 September 2009

Total revenue for the third quarter was 13.4% below last year in actual currency and 16.5% below last year in constant currency, but was 2.2% ahead of the second quarter in actual currency. Our like for like revenue for the third quarter was down against last year by 9.7% in actual currency and 13.7% in constant currency.

In the third quarter, Group revenue has benefited from the impact of the government scrappage incentive scheme in the UK and from slightly better trading momentum in Australia and Hong Kong.

Our gross margin performance in the third quarter has been robust, as we continued to benefit from solid used car margins in several markets and our aftersales business, which represents half of our Group gross profit, remained resilient.

Our cost base has benefited from our Group restructuring programme that has, over the last twelve months, reduced our workforce by 2350 positions and closed 31 sites.

Our strong cashflow generation has reduced our finance costs for the third quarter.

Regional commentary

Our UK retail business has experienced a much stronger third quarter than anticipated as we benefited from the successful scrappage incentive scheme and used car margins being maintained at the exceptional level seen in the first half. However, the underlying demand for new vehicles remains weak as third quarter registrations excluding scrappage were down 15.1% versus 2008 and 28.6% versus 2007.

The demand for new vehicles remains weak in mainland Europe with the exception of Greece where the market has been helped by government initiatives.

The Eastern European and Russian markets remain difficult but we continue to improve our competitive position.

Our trading performance in Hong Kong has improved in the third quarter and we continue to gain share in Singapore in a weakening market.

In Australia, we continue to enjoy a strong share momentum in a market that is recovering gradually.

Group Financials

The Group’s working capital performance remains strong and given our better than expected trading and continued good cash generation, we now expect to be broadly debt-free by the year-end.

Given this strong cashflow performance, our finance costs will be lower than our previous expectations for the year.

At the end of September we closed our call option programme on the back of weakening Sterling at no cost.

Our Group tax rate for the year will be lower than previous guidance reflecting the geographic mix of our business.

Outlook

Our Group financial performance for the full year is expected to be significantly ahead of previous expectations. However, we expect conditions to remain challenging in most of our markets until well into the second half of 2010 as consumer confidence continues to be weak across the world and unemployment is still rising in many of our key markets. We are confident that with our continued focus on costs and working capital, the Group has the financial strength and flexibility to trade effectively and continue to gain share in these challenging conditions.

Commenting on the statement, André Lacroix, Group CEO said:

“Whilst we continue to experience an extremely challenging market environment, we have benefited in the third quarter from stronger than expected trading in several core markets. This demonstrates the benefits of our broad geographic portfolio, the strengths of our business model and the impact of our self-help measures implemented throughout the Group.

“With increased share across our key markets, scale positions in established and emerging markets and industry consolidation opportunities in the medium term, we are confident that the Group is well positioned to continue to outperform our competitors and to benefit from market recovery.”

- Ends-

For further information, please contact:

Group Communications, Inchcape plc
+44 (0) 20 7546 0022

Investor Relations, Inchcape plc
+44 (0) 20 7546 8209

Financial Dynamics (Jonathon Brill/Billy Clegg)
+44 (0) 20 7831 3113

www.inchcape.com

Conference call for Analysts and Investors

For details please contact Georgina Bonham at Financial Dynamics on +44 (0) 20 7269 7262.

Certain statements in this announcement are forward-looking statements. These forward-looking statements are made in good faith based upon Inchcape plc’s expectations and beliefs concerning future events impacting the Group, and certain assumptions regarding the Group’s business strategies and the environment in which it operates, as at the date of this announcement. Inchcape plc cautions that these forward-looking statements are not guarantees and that actual results or events may differ materially from those expressed or implied in this announcement.

Notes to editors About Inchcape

Inchcape is a leading, independent international automotive distributor and retailer operating in 26 markets. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance. Inchcape’s vision is to be the world’s most customer-centric automotive retailer. Inchcape represents the world’s leading automotive brands, including Toyota, Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi, Honda, Land Rover and Jaguar. Inchcape, which has been listed on the London Stock Exchange since 1958, is headquartered in London, employs around 15,000 people and has scale operations in the UK, Singapore, Australia, Hong Kong, Greece, Belgium and Russia.

www.inchcape.com

Inchcape’s self-help measures deliver strong cash flow despite unprecedented market conditions

Inchcape plc, a leading independent automotive distributor and retailer , announces its half year results for the period ended 30 June 2009.

Operational & strategic highlights:

· Increased share in most markets

· Continued strong Aftersales contribution

· Significant like for like cost reduction of 13%

· Rapid reduction in net debt to £28m, down from £408m at year end:

o strong operating cash flow generation of £217m

o net proceeds of £234m from successful Rights Issue

Financial highlights:

· Reported Sales £2.8bn (2008: £3.3bn), down 22.9% in constant currency

· Pre exceptional PBT £65.4m (2008: £130.3m), down 57.6% in constant currency

· Reported PBT £47.0m (2008: £130.3m)

· Adjusted EPS* 1.3p (2008: 3.5p**)

· Reported EPS 0.7p (2008: 3.5p**)

* Before exceptional items ** Adjusted to reflect the Rights Issue

André Lacroix, CEO of Inchcape plc, commented:

“The Group has delivered a resilient performance in the first half of this year, demonstrating the strengths of our unique business model in a downturn and the responsiveness of our organisation to unprecedented market conditions.

Despite particularly challenging trading conditions, our operational focus on executing our five Group-wide priorities - of growing market share and Aftersales, whilst reducing costs, managing working capital and reducing capital expenditure - has delivered a strong cash flow performance. Combined with our recent successful Rights Issue, this has considerably strengthened our balance sheet.

We are pleased with our first half results due to solid performances in Australia, Singapore and the UK, improved Used car margins and good Aftersales resilience. However, in light of the global downturn, we remain cautious for the second half.

We will continue to focus on our five priorities as conditions in our markets remain challenging and we do not expect the global recovery to start until well into 2010.

We are confident in our ability to deliver a solid performance for 2009 as a whole and the Group is well positioned to benefit from the market recovery.”

Group Communications, Inchcape plc

+44 (0) 20 7546 0022

Investor Relations, Inchcape plc

+44 (0) 20 7546 8209

Financial Dynamics (Jonathon Brill/Billy Clegg)

+44 (0) 20 7831 3113

www.inchcape.com

Notes to editors

About Inchcape:

Inchcape is the leading, independent international automotive distributor and retailer operating in 26 markets. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance.

Inchcape’s vision is to be the world’s most customer-centric automotive retail group and represents some of the world’s leading automotive brands, including Toyota, Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi, Honda, Land Rover and Jaguar.

Inchcape, which has been listed on the London Stock Exchange since 1958, is headquartered in London, employs around 15,000 people.

www.inchcape.com

Click here to download the full PDF 2009 Interim Report

29 July 2009

Inchcape plc - Directorate Changes

Inchcape plc (’Inchcape’ or ‘the Group’), the world’s leading car retailer, is pleased to announce the appointment of John McConnell to the role of Group Finance Director with effect from 1 October 2009. John will also join the Inchcape plc Board from 1 October 2009 as an Executive Director.

Having joined Inchcape more than ten years ago, John is currently the CEO Inchcape Australasia, a position he has held since 2005. Prior to that, John was CFO of Inchcape Australia.

Andre Lacroix, Group Chief Executive, Inchcape plc said: “I have known John for many years now and have always been impressed by his strong sense of ethics and integrity, his commercial sense, his ability to build world class teams and customer orientation. His knowledge of our business, international experience and financial skills will be extremely valuable to us. I am really looking forward to partnering with John in his new role as we enter the next exciting phase of our Inchcape journey.”

There is no information required to be disclosed pursuant to Listing Rule 9.6.13R relating to the appointment to the Board of John McConnell.

Ends

Group Communications, Inchcape plc

+44 (0) 20 7546 0022

Investor Relations, Inchcape plc

+44 (0) 20 7546 8209

Financial Dynamics (Jonathon Brill/Billy Clegg)

+44 (0) 20 7831 3113

Notes to editors

1. John McConnell joined Inchcape in 1999 as CFO Australia / New Zealand. He became MD Inchcape Retail and AutoNexus for Australia before assuming the role of CEO Australasia in 2005. Prior to joining Inchcape, John held senior finance roles with Reckitt & Colman (now Reckitt Benckiser plc) in the UK and was Finance Director for the German business.

John has an MBA from the University of Queensland, a Bachelors’ degree in Economics from Macquarie University and is an Associate of the Australian Society of Certified Practising Accountants.

John and his family will be relocating to the UK.

2. Inchcape is a leading, independent international automotive distributor and retailer operating in 26 markets. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance.

Inchcape’s vision is to be the world’s most customer-centric retailer and represents some of the world’s leading automotive brands, including Toyota, Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi, Honda, Land Rover and Jaguar.

Inchcape, which has been listed on the London Stock Exchange since 1958, is headquartered in London, employs around 15,000 people and has scale operations in the UK, Singapore, Australia, Hong Kong, Greece, Belgium and Russia.

www.inchcape.com

Inchcape plc

Inchcape, a leading independent automotive distributor and retailer, makes the following statement on trading prior to entering its close period. Inchcape will announce its Interim Results on 29th July 2009.

Current trading for the five months ended 31 May 2009

Customer demand for new vehicles is still weak but our aftersales business, which represents approximately half of our gross profit, remains strong.

Total sales for the five months compared to the prior year were down 16.3% in sterling terms and 22.6% in constant currency. Group like for like sales in constant currency were down 23.8%.

Our aggressive cost reduction programmes, that started in 2008 and continued in the first five months of 2009, are delivering significant benefits to mitigate the impact of the ongoing downturn in the car market. In the second quarter, our pre tax profits are currently expected to be significantly ahead of the £20 million reported for the first quarter, but well below the same period last year.

The highlights in our key markets for the first five months of 2009 are as follows:

• In Australia, we achieved a record share of 4.3% in a market that is down by 19.2% and we are benefiting from a strengthened used car margin.
• In Asia, our Singapore business continues to deliver strong profitability in a market that is weakening, as expected, due to high Certificate of Entitlement prices; in Hong Kong demand for new cars continues to be weak.
• In Europe, the Belgian market is down 18%; the Greek market, which is down by 32.1%, should benefit from the government incentives on VAT reduction in Q3.
• In the Emerging Markets, demand and profitability are challenging in Eastern Europe but we continue to deliver solid profitability in Russia despite the new car market being down by 47.1%.
• In the UK, we continue to outperform the industry with like for like sales down 21% in a market that is down by 27.9% and we are still benefiting from a stronger used car market.

Financial Position

The net debt of the Group was c.£100 million at the end of May, down from £404 million at the end of March 2009, reflecting the £234 million proceeds from our Rights Issue and improved cash flow driven by a solid profit performance and rapid working capital reduction in April and May. In May we achieved our year-end target for landed stock cover. As a result of this further progress in reducing working capital, we currently expect our year-end net debt to be below our previous expectations.

The Group has paid down at par US$114 million of its US private placement loan notes to reduce its interest costs and retains £979 million of committed funding facilities at very competitive rates.

André Lacroix, Group Chief Executive of Inchcape plc, commented:

“The Group Balance Sheet has been strengthened considerably due to the successful completion of our Rights Issue and the positive impact of our operational initiatives on cash flow.

Given the challenging trading conditions in our markets, we remain focused on executing our five operational priorities of growing market share and aftersales, while reducing costs, working capital and capital expenditure to improve our competitive position and maximise our cash flow.

Our actions in the first five months provide a platform for us to deliver a solid performance for the full year against the background of what is expected to be a lengthy global industry downturn.”

For further information, please contact:

Group Communications, Inchcape plc

+44 (0) 20 7546 0022

Investor Relations, Inchcape plc

+44 (0) 20 7546 8209

Financial Dynamics (Jonathon Brill/Billy Clegg)

+44 (0) 20 7831 3113

www.Inchcape.com

Notes to editors

1. About Inchcape:

Inchcape is the leading, independent international automotive distributor and retailer operating in 26 markets. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance.

Inchcape’s vision is to be the world’s most customer-centric automotive retail group and represents some of the world’s leading automotive brands, including Toyota, Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi, Honda, Land Rover and Jaguar.

Inchcape, which has been listed on the London Stock Exchange since 1958, is headquartered in London, employs around 15,000 people.

www.Inchcape.com

2. This announcement is based on information sourced from unaudited management accounts. The group’s interim results will include certain exceptional items.

3. Statements made in this announcement that look forward in time or that express management’s beliefs, expectations or estimates regarding future occurrences are “forward-looking statements” within the meaning of the United States federal securities laws. These forward-looking statements reflect the Group’s current expectations concerning future events and actual results may differ materially from current expectations or historical results.