May 24, 2018 / 6:09 AM / 25 days ago

BRIEF-Car dealership Inchcape's revenue rises, full year outlook unchanged

* GROUP REVENUE £2.99BN, UP BY 2.9% AT ACTUAL CURRENCY AND 6.2% AT CONSTANT CURRENCY . DISTRIBUTI

* DISTRIBUTION REVENUE WAS UP BY 4.1% AT ACTUAL CURRENCY AND UP 9.5% AT CONSTANT CURRENCY

* RETAIL REVENUE WAS UP BY 1.9% AT ACTUAL CURRENCY AND UP 3.6% AT CONSTANT CURRENCY

* CENTRAL AMERICA ACQUISITION WHICH CLOSED 26 MARCH CONTRIBUTED 0.8% TO GROUP REVENUE

* I AM PLEASED WITH STRATEGIC PROGRESS WE HAVE MADE IN PERIOD, DESPITE A CHALLENGING MARKET BACKDROP IN SOME REGIONS.

* OUR PERFORMANCE OVER FIRST FOUR MONTHS OF 2018 IS REFLECTIVE OF TRENDS WE HAD ANTICIPATED AT START OF YEAR AND FOLLOW FROM THOSE SEEN IN LATTER PART OF 2017.

* OVER PERIOD SALES PERFORMANCE HAS BEEN SOLID, WITH STRENGTH IN EMERGING MARKETS AND AUSTRALASIA OFFSETTING WEAKER PERFORMANCE IN UK & EUROPE

* WE EXPECT SOLID PROFIT GROWTH YEAR-ON-YEAR ON A CONSTANT CURRENCY BASIS, REFLECTING OUR RESILIENT ORGANIC GROWTH EXPECTATIONS AND ACCRETION DUE TO CENTRAL AMERICA DISTRIBUTION ACQUISITION.

* LOOKING BEYOND 2018, INCHCAPE WILL CONTINUE TO BENEFIT FROM ITS GLOBAL DIVERSIFICATION AND SCALE, ITS INCREASING EXPOSURE TO HIGHER GROWTH AND DISTRIBUTION MARKETS, AND FROM ORGANIC AND INORGANIC ELEMENTS OF IGNITE STRATEGY.

* INCHCAPE IS A STRONGLY CASH GENERATIVE BUSINESS WITH A SOLID BALANCE SHEET.

* OUR OUTLOOK FOR YEAR IS UNCHANGED.

* OVERALL, OUR YEAR-TO-DATE PERFORMANCE IS BROADLY CONSISTENT WITH TRENDS AND SHAPE OF OUTLOOK WE EXPECTED FOR 2018 PROFITS. Source text for Eikon: Further company coverage: (London newsroom)

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