Inchcape delivers ‘robust’ first half performance

INTERNATIONAL automotive distributor and retailer Inchcape has reported sales up 6% to £3.1 billion and pre-tax profits up 5.8% to £134.2 million for the six months to June 30.

 

Group chief executive André Lacroix said it was a ‘robust performance’ with strong growth in the premium and luxury segments in theUK. He added: ‘We believe Inchcape is engineered for growth and we expect the group to deliver a robust performance in 2012.’

 

In the UK, the company saw total revenues increase 2.9% to £1,081,900 million compared with the first half of last year driven by a string of strong new product launches including: the Audi A1 Sportback, Audi Q3, BMW 3 Series and 6 Series GT, Mercedes-Benz B-Class, Lexus GS, the Mini Roadster, the new Porsche Boxster and 911, the Toyota Yaris Hybrid and the Volkswagen Beetle, Passat Coupe and Up.

 

The retail division’s trading profit in the first half increased 4.3% to £33.6m.

 

Inchcape Fleet Solutions, the group’s leasing and fleet management business, reported a ‘very strong’ first half with trading profit up 9.7% to £3.4m on sales of through strong cost controls and tight gross margin management enabling a record return on sales of 19.3%, up 1.7 percentage points year on year. The increase came despite revenues flat-lining at £17.6m.


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