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Inchcape increases its 2018 interim dividend by 13%

Investment Tools Ltd.
Inchcape increases its 2018 interim dividend by 13%

Inchcape 2018 interim results

Encouraging revenue growth of 6.8% in constant currency, and growth of 3.8% in actual currency

Pre-exceptional profit before tax growth of 2% excluding property profit1 at constant currency, with strong Distribution momentum offsetting Retail challenges

 Reported profit before tax of £161.2m, down 15.6%

 Full year guidance confirmed. Continue to expect solid constant currency profit growth, with H1 overall performance largely as anticipated

 Strong performance in core Distribution business, with trading profit up 21% constant currency, supported by strength in Asia

 Retail market performance reflects significant vehicle margin pressure, as expected, down 61% in constant currency. Comparatives ease in the second half

 New Distribution contracts for Suzuki in Central America, Jaguar Land Rover in Colombia, and BMW in Guam announced since the start of the year

 Further new Jaguar Land Rover contract win in Kenya announced today - important strategic development for our African business

 Interim dividend per share +13%

 

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