Thursday, Inchcape Plc (INCH.L), in its pre-close trading update for the year ending 31 December 2009, said its trading performance remains strong despite challenging market conditions. The Group said it is expected to close 2009 slightly ahead of its expectations.
Total revenue for the eleven months to November 2009 is 11.4% below last year in actual currency and 17.5% below last year in constant currency. For the same period, like for like revenue is down against last year by 9.4% in actual currency and 15.6% in constant currency, the company said.
Inchcape said its gross margin performance remains robust and it continues to benefit from good Used Car margins in several markets. After Sales business, which represents half of Group gross profit, is performing well, the company added.
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