Inchcape PLC - Trading Update
This announcement contains inside information
Inchcape plc ("Inchcape" or "the Group") today provides the following trading update.
In our Q3 update of
It is now clear that the restrictions have had less of an impact on our performance than might have been expected with resilient demand for both Vehicles and Aftersales services. This was supported by our ability to continue delivering vehicles, provide a click-and-collect service and to continue to perform Aftersales services in the affected markets.
In light of this better than expected performance in November, and the limited restrictions in place as of today, we expect 2020 profit before tax (pre exceptionals) will be materially ahead of the published market consensus (
Additionally, supported by our highly cash generative business model, our overall financial position has strengthened further and we expect our year end net cash position will be substantially above the prior year.
Against the backdrop of a better trading performance and strong cash generation, we will consider resuming dividend payments in accordance with the performance of the business at the year end.
Notwithstanding our FY 2020 performance, we continue to operate in an uncertain economic environment as a result of the Covid-19 pandemic.
The Group's full year results will be published on
Inchcape plc - Investor Relations
Inchcape is the leading independent multi-brand Automotive Distributor and Retailer, operating in 34 markets with a portfolio of the world's leading automotive brands. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance. The Company has been listed on the London Stock Exchange since 1958, is headquartered in
Quick facts: Inchcape
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