Inchcape Plc (UK) (GB:INCH) has released an update.
Inchcape Plc has reported a strong start to 2024 with a 5% increase in group revenue, achieving £2.3 billion, bolstered by organic growth and recent acquisitions, despite currency headwinds. The company is transforming into a pureplay Distribution business, underscored by the divestment of its UK retail operations for £346 million and a £100m share buyback plan. This strategic shift aims to capitalize on Inchcape’s global market leadership and advanced digital capabilities, with a positive medium to long-term outlook for the Group.
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