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Inchcape pre-tax profits rise

Inchcape has reported a 20.6% rise in full-year pre-tax profits to £213.9 million in 2006, from £177.3m in 2005.

Group sales increased by £300m to £4.8 billion, up from £4.5bn in 2005.

Andre Lacroix, group chief executive of Inchcape, said: "In the last 12 months we have made significant progress. We have put a number of new processes in place and invested in management to strengthen our existing businesses. We have accelerated our growth with a record performance outside of Asia.

“We have made strategic investments in the UK market and have increased the focus on our international expansion, principally in the high growth emerging markets.

"Together with the benefit of the acquisition of EMH from January 29 this year, the full year effect of the Lind acquisition, and our entry into the high growth markets of Russia and China, mean that we look forward to 2007 with confidence."

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