In its Interim Management Statement, Inchcape has indicated that the UK business has recorded like for like growth for the third quarter of 2014 of 11.8% over the same period in 2013.
As a global business trading in 26 markets Inchcape recorded revenue in the third quarter of £1.697bn, up 10.6% at constant currency. The picture for the first nine months to September 2014 shows the group’s total revenue at £5.033bn, up 9.6% at constant currency.
André Lacroix, Group CEO of Inchcape plc said:“Our growth momentum continues and we are on track to deliver a strong underlying constant currency performance in 2014. This is testament to the strengths of the Inchcape business model, our differentiated Customer 1st strategy and our operational excellence enabled by industry leading processes. The Group has a track record of delivering sustained earnings growth with strong cash generation. We believe that our focus on premium growth will continue to deliver premium returns for our shareholders, as we will continue to benefit from exciting growth prospects moving forward. Our partnerships with the world’s leading brands in the premium and luxury segments and the strength of our balance sheet, position us both to seize attractive consolidation opportunities and make disciplined capital investments in high margin and high growth markets.”
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