Inchcape plc (LON:INCH) has provided a trading update.
Following our Q1 update on the 29 April 2021, the encouraging trends observed across the business have continued, and the Group’s performance to date has exceeded our expectations. During the period we have seen our businesses benefit both from an uptick in demand and margin resilience.
There is still a high level of uncertainty about the second half, both in terms of the pandemic situation and issues relating to supply due to shortages of semi-conductors, which have had a limited impact on the Group to date.
We expect the strong first half performance will underpin our full year results, and expect to deliver FY21 profit before tax (pre-exceptionals) significantly ahead of the published market consensus (£216m).
The Group’s interim results will be published on 29 July 2021.
