INCHCAPE
Inchcape has done it again: a much better than expected set of results and confirmation that it is ahead of forecasts, both in the UK and in the emerging markets it serves.
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| Andrew Lacroix, Inchcape chief executive | |
That happy situation is fuelled by the conglomerate’s specialising in the premium and luxury segments that continue to grow in most markets.
Charlie Muir-Sands, analyst at Deutsche Bank, says third-quarter sales were up 8%, with really good growth in both the UK and the emerging markets.
The UK is heading for a 3% unit car sales improvement. Singapore, small though it is, will generate a huge 10% year-on-year gain.
Deutsche points out that Inchcape has a strong position in the vibrant UK market and good trading in Asia and Australasia. It also has a very strong balance sheet that will allow it to take decisions on opportunities to grow the group by acquisition.
Shareholder - 06/01/2014 12:21
I like the analysis of Vertu as I am a shareholder. I do worry about their buying at a permium from now on. I wonder when a merger between two of the big dealerships might be on the cards?. A merger might be a good way of gaining economies and savings in this fragmented industry.