Inchcape profits up 8.5 per cent

Inchcape has forecast that its full-year profit before tax should be 8.5 per cent higher than in 2001. The group forecasts a profit before tax, goodwill amortisation and exceptionals, of £106.2m (2001= 97.9m).

“Despite the economic weakness in some of our markets, Inchcape's geographic spread and breadth of business activities have again proved to be important factors in this strong performance and continue to give us confidence looking forward to 2003,” said a company spokesman.

The company will announce its 2002 preliminary results on 3 March 2003.