After a challenging year, largely due to supply factors in the Australisian and Ethopian markets, Inchcape has maintained its dividend at 8.9p.
Other financial highlights include:
• Stabilisation in UK and Australia Retail profit year-on-year, with good progress on initiatives to enhance performance
• Optimisation of Retail portfolio with disposal of 10 sites in the UK and Australia, which generated losses in FY18, for £34m cash
• Pre-exceptional PBT of £156m down 13% year-on-year in constant currency; reported H1 PBT of £154m down 3% year-on-year
• Disciplined capital allocation with £100m buyback in progress since May 2019
• Reiterate outlook expectation for a resilient 2019 performance, excluding a AUD/JPY headwind