Inchcape PLC
10 May 2007
10 May 2007
Inchcape AGM Trading Statement
In his statement to shareholders at today's Annual General Meeting, Peter
Johnson, Chairman of Inchcape plc, will make the following comments about
trading.
'The trading performance of the Group for the first quarter is in line with our
plans and accordingly our expectations for the full year remain unchanged.
Total sales for the first quarter of 2007 are up 26% on a constant currency
basis (23% in sterling terms). Of this increase 14 percentage points represents
the contribution of European Motor Holdings from the date of acquisition to 31
March 2007 and a further 9.1 percentage points represents other acquisitions and
new retail centre openings in 2006.
Like for like sales for the first quarter are up 2.9% on a constant currency
basis and in sterling terms are in line with the prior year.
Following the acquisition of European Motor Holdings plc at the end of January
2007, I am pleased to report the integration of that business into the Inchcape
UK Retail organisation is proceeding in line with our plans.'
For further information, please contact:
Group Communications, Inchcape plc
+44 (0) 20 7546 0022
Investor Relations, Inchcape plc
+44 (0) 20 7546 8432
Financial Dynamics (Jonathon Brill/Billy Clegg)
+44 (0) 20 7831 3113
Notes to editors
Inchcape plc is the leading independent, international automotive retailer, with
scale operations in Australia, Belgium, Greece, Hong Kong, Singapore and the
UK. The Group also has operations in a number of other markets, including
Eastern Europe, the Baltics, Russia and South America. In addition to growing
its core businesses, Inchcape is looking to develop scale operations in new and
emerging regions. It represents leading automotive brands and operates either a
retail, or a vertically integrated retail model (i.e. exclusive distribution and
retail), depending on the market. Inchcape's core brand partners are Audi, BMW,
Honda, Mazda, Mercedes-Benz, PAG, Subaru, Toyota/Lexus and Volkswagen.
For further information, visit us at www.inchcape.com
This information is provided by RNS
The company news service from the London Stock Exchange
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