■ Inchcape secured nine contracts as an automotive distributor following the sale of its UK retail business to GP1!
■ Inchcape reported a resilient performance in Q3, with revenues increasing by 2% to 2.65 billion euros as order banks unwind in Europe.
■ Duncan Tait, Inchcape Group Chief Executive:
“Against a fast-moving global automotive environment, Inchcape delivered a resilient performance, capitalising on our market-leading, global scaled distribution platform, our diversified portfolio, and the exceptional operational execution of our regional teams.
“Following the sale of our UK retail business during the period, our success in winning nine contracts so far this year demonstrates our ability to drive growth as a pureplay automotive distributor.
These contracts, along with our healthy pipeline of bolt-on acquisitions, will continue to support the business as we grow in existing markets by building market share, expand into new markets and develop our OEM partner portfolio to drive growth and value.
These contracts, along with our healthy pipeline of bolt-on acquisitions, will continue to support the business as we grow in existing markets by building market share, expand into new markets and develop our OEM partner portfolio to drive growth and value.
■ The group, now a pureplay distribution business said it had delivered a ‘robust’ performance in Europe.
The group won nine distribution contracts in the full year 2024, including five in H2, and said the disposal of its UK retail business had strengthened its balance sheet.
It said it was making good progress with its Euro billion euros 180m share buyback programme, with approximately Euro 99,6m in shares acquired to date and expected to complete during Q1 2025
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