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Inchcape reports a robust Q3 trading

Inchcape has updated the stock market on its Q3 trading and claims it enjoyed a "robust" performance from its broad international operation.

In the UK, where it operates dealer group Inchcape Retail and a fleet services business, it said it achieved "a strong performance" in new cars, benefitting from the strength of the premium and luxury brands it represents here, while used cars and aftersales also performed well.

Global revenue in Q3 rose 4% at actual currency to £1.518bn. Like for like revenue was up 3.2%.

Total revenue for the first nine months to October was up 5.4% to £4.626bn.

For the full statement click here

André Lacroix, Group CEO of Inchcape plc, said: "We have delivered another robust quarterly performance despite challenging trading conditions in several markets, which is a testament to the strength of Inchcape's business model and differentiated Customer First strategy.

"We operate in the right markets, with the right brands and in the right categories given our scale presence in Asia Pacific and the Emerging Markets, our focus on premium and luxury brands and our diversified profit streams.

"Our business has a track record of delivering sustainable earnings growth with a high return on capital employed. We remain very disciplined on cost and our balance sheet is strong as we maintain our focus on cash conversion.

"The Group is well positioned to take advantage of the exciting growth prospects and attractive consolidation opportunities in the global automotive market given our competitive advantage in customer service and our strong relationships with the world's leading brands in the premium and luxury segments."

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