Inchcape PLC
23 October 2007
23 October 2007
Inchcape plc
Third quarter trading update
Inchcape plc, the world's leading car retailer, today provides a third quarter
trading update.
The trading performance of the Group continues to be in line with expectations.
Total sales for the three months to 30 September 2007 were up 20.2% on a
constant currency basis (19.8% in sterling terms). For the nine months to 30
September 2007, sales were up 27.5% on a constant currency basis (25.6% in
sterling terms). Like for like sales for the three months to 30 September 2007
were up 3.3% and for the nine months to 30 September 2007 were up 3.1%, both on
a constant currency basis.
Since the interim results we have continued to implement our growth strategy in
emerging markets announcing two more retail centre acquisitions in St
Petersburg, Russia totalling £21m. We have also completed several non-core UK
disposals totalling £22.6m. We continue to look at expansion opportunities
across all of our target markets.
We remain confident in our prospects for the full year.
ends
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 Baltic's, 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 current key manufacturer partners
are Toyota/Lexus, Subaru, BMW, Mazda, Mercedes-Benz, Volkswagen, Audi and Honda.
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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