INCHCAPE, the world’s leading car retailer, says it is confident about its trading prospects for the full year after a a third quarter update revealed that total sales for the three months to September 30 were up 20.2%.
For the first nine months of the year, sales were up 27.5%. Like for like sales for the three months were up 3.3% and for the nine months up 3.1%. The increase in volumes can largely be attributed to the company’s acquisition of UK dealer group European Motor Holdings at the end of last year. Shares jumped almost 30p on the news.
The company also said it continued to look at expansion opportunities across all of its target markets. (Inchcape: October 23).
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