Inchape 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
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]