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BRIEF-Inchcape says performance boosted again by weak pound as revenue rises
May 25, 2017 / 6:09 AM / 6 months ago

BRIEF-Inchcape says performance boosted again by weak pound as revenue rises

May 25 (Reuters) - Inchcape Plc

* Group revenue £2.91bn, increasing by 17.9% at actual currency and 8.1% at constant currency

* Distribution revenue was up by 30.0% at actual currency and 14.8% at constant currency

* Retail revenue was up by 9.8% at actual currency and 3.4% at constant currency

* Inchcape has entered into an agreement to acquire premium estonian automotive distribution operations, focused on bmw group, from united motors as.

* Our performance in first four months of 2017 is consistent with our expectation for growth across majority of our markets.

* Growth across uk value drivers, continuation of new car margin pressure

* Our performance this year is in line with expectations and we continue to expect to deliver a resilient constant currency performance in 2017.

* With over three quarters of profits denominated in currencies other than sterling, our reported actual currency performance continues to benefit from sterling’s weakness and acts as an offset to transactional currency headwind in australia. Source text for Eikon: Further company coverage: (London newsroom)

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