LONDON (dpa-AFX) - Inchcape plc (INCH.L), on Thursday, reported H1 total profit of £139 million versus a loss of £100 million incurred a year ago.
Statutory profit before tax from continuing operations increased 9% to £204 million from £188 million in the prior year period. Basic EPS from continuing operations totaled 32.1p versus 36.2p last year.
Adjusted profit before tax was £249 million compared to £184 million in the same period of last year. Adjusted basic EPS was 42.2p versus 35.0p earned a year ago.
Revenue for the period amounted to £5.63 billion, 45% higher than the previous year's revenue of £3.89 billion.
Duncan Tait, Group CEO, said, 'Inchcape has produced another excellent performance during the first half of 2023, driven by growth from acquisitions and by consistently strong organic growth. In particular, the acquisition of Derco has transformed our market position in the Americas and is already having a positive impact on the Group.'
'We are uniquely placed to deliver outstanding performance for our OEM partners and drive consolidation in a highly fragmented market, supporting sustainable growth and value for our stakeholders. As a result, we remain confident in our medium-term outlook,' CEO added.
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