Inchcape Plc Q1 Results Ahead Of Its Expectations - Quick Facts

Inchcape plc (INCH.L) reported first quarter Group revenue of 1.9 billion pounds, up 2% on an organic basis, and down 3% reported. On an organic basis, Distribution was up 4% and Retail was down 2%. The Group noted that while performance in Distribution improved sequentially, Retail was impacted by stricter pandemic related restrictions.

The Group continues to expect material growth in profits and an improved operating margin for fiscal 2021.

Duncan Tait, Group CEO, said: "The performance demonstrates the underlying resilience of the Group - with revenue growth underpinned by a widespread recovery in our Distribution business."

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