Delivering against strategy, share buyback programme increased to £250m, expecting EPS growth of >10% in FY 2026

Inchcape continued to deliver on our Accelerate+ strategy during the first half of 2026, supported by our diversified and scaled market and brand portfolio, with our volume growth of 9% driven by distribution contracts won in recent years.

● Inchcape volumes1 up 9%, driven by contract wins, with TIV2 in Inchcape markets up 8%
● Organic revenue growth of 5%; reported revenue growth of 9%, up 7% at constant currency, to £4.7bn, driven by supportive market conditions and contribution from contracts won in recent years
● Today announcing £75m increase to current share buyback programme to £250m

Looking ahead, we expect to deliver a year of strong adjusted EPS growth in FY 2026, reflecting currency tailwinds and value-accretive M&A, with a stable performance, on a constant currency basis.

With our financial performance for the year in mind, and supported by our current share buyback programme, increased to £250m today, we remain confident in growing adjusted EPS by >10% this year, in line with our medium term guidance.

H1 2026 results

duncan-tait-mobile
 “Inchcape continued to deliver on our Accelerate+ strategy during the first half of 2026, supported by our diversified and scaled market and brand portfolio. Looking ahead, we remain confident in growing adjusted EPS by >10% this year, in line with our medium term guidance.”

Duncan Tait

Group Chief Executive

Revenue

£4.7bn

 Reported revenue

Organic growth

5% 

  9% reported YoY

Profitability

£188m

Adjusted PBT H1 2025: £200m

Operating margin

 5.3%

 down (40) bps in constant currency

 ROCE

31% 

vs 27% in H1 2025

Balance sheet & cash

£84m 

Free cash flow, 112% FCF:PAT conversion (LTM)

 Adjusted net debt

£329m

excluding lease liabilities vs £374m in H1 25

Leverage

0.5x

vs 0.6x in H1 25

Shareholder returns

35.5p 

Adjusted basic EPS (H1 2025: 35.5p)

Interim dividend per share  

10.8p

14% from H1 25

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Results materials​

Access the full results materials from our H1 2026 results, including market data and webcast.​