Inchcape records successive year of profit growth

Inchcape records successive year of profit growth

Inchcape plc has released its full-year results for 2015 and reports that it has been another year of robust profit growth for the franchised retail group.

Revenue grew 7.8 per cent from the previous year and operating profit increased 10.3 per cent. The company said its strong performance was down to its diversified worldwide portfolio, including its emerging markets segment in countries such as Chile, Peru and Ethiopia.

Overall, Inchcape’s revenue totalled £6.8 billion, with an operating profit of £275.2 million, in 2015.

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Stefan Bomhard, Inchcape’s new group chief executive office, said of the results: “Inchcape’s track record of performance continued in 2015. Our robust profit growth was underpinned by our strong positions in a global portfolio of markets, trading across a diversified set of five revenue streams as a distributor and retailer for our world-leading OEM partners.

“The group has converted robust revenue and profit growth in 2015 into strong cash generation, supporting our ability to invest in our brand representation and enabling us to sustain long-term advantage versus our competitors.

“We continue to maintain a strong but efficient balance sheet, with a growing dividend and share buybacks strengthening shareholder returns. We expect to deliver a solid performance in 2016.”