Friday, May 16, 2008
Inchcape grows international sales
UK operations help to boost dealer group sales by 6.5 per cent
Inchcape has reported an increase in total international sales of 6.5 per cent for the 2007 fiscal year, with sales from continuing operations up 7.2 per cent.
'Inchcape’s UK retail business, which holds the second place in the Motor Trader Top 200, had a like-for-like sales increase of 3.5 per cent, outperforming the UK market by over 4 percentage points.
The group’s headline pre-tax profit in sterling terms was up 5.7 per cent on the same quarter last year, while it was in line with the same period last year in constant currency.
The group said it remains in a sound financial position and, due to the launch of a number of new models in 2008, believes it will be able to build momentum as the year progresses.
Inchcape also said it has high hopes for its expansion into Russia, saying its acquisition of Russian Musa Motors Group is expected to be complete by July 2008.
The group expects to generate £1bn of sales in Russia in 2009.
DATED: 16.05.08
FEED: MT
Inchcape has reported an increase in total international sales of 6.5 per cent for the 2007 fiscal year, with sales from continuing operations up 7.2 per cent.
'Inchcape’s UK retail business, which holds the second place in the Motor Trader Top 200, had a like-for-like sales increase of 3.5 per cent, outperforming the UK market by over 4 percentage points.
The group’s headline pre-tax profit in sterling terms was up 5.7 per cent on the same quarter last year, while it was in line with the same period last year in constant currency.
The group said it remains in a sound financial position and, due to the launch of a number of new models in 2008, believes it will be able to build momentum as the year progresses.
Inchcape also said it has high hopes for its expansion into Russia, saying its acquisition of Russian Musa Motors Group is expected to be complete by July 2008.
The group expects to generate £1bn of sales in Russia in 2009.
DATED: 16.05.08
FEED: MT
