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
“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.”
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