Automotive retailer and distributor, Inchcape plc (INCH.L), Thursday in its interim management statement for the period from January 1 to May 15 said, the Group revenues for the first four-month period was 2.158 billion pounds up 4.5 percent at actual currency, and up 3.5 percent at constant currency. Like-for-like revenues increased by 0.9 percent at actual currency and remained flat at constant currency.
The company said the demand for new cars was in line with their expectation, benefiting from their international portfolio of 26 markets. Their used car business and after-sales activities which represent about 60 percent of the Group's gross profit performed well, it said in a statement.
The Group stated that it is on track to deliver its full year targets despite pressure on new vehicle margins in some of their markets.
André Lacroix, Group CEO of Inchcape plc said, "We have recently completed the acquisition of the Trivett Automotive Group. This transaction represents an important step in the development of our Asia Pacific presence expanding our existing brand footprint in Australia with high quality operations in the luxury and premium segments."
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