Inchcape PLC (LSE:INCH) shares came under pressure as the car dealer said revenues were more or less flat in its latest quarter while currency movements will hit its stated full-year numbers.
Group revenue of £2.2bn was up 2% at constant currency, with organic revenue down by 1%.
Growth for the full year is expected to be "moderated" at constant currency, supported by ongoing cost management discipline but reported results will be impacted by foreign exchange headwinds including the devaluation of the Ethiopian Birr.
Duncan Tait, chief executive, stated: "Following the sale of our UK retail business during the period, our success in winning nine contracts so far this year demonstrates our ability to drive growth as a pureplay automotive distributor.
“We are therefore reiterating our outlook for the year and remain confident about the medium-term outlook for the group."
Shares fell 5% to 724p.