February 27, 2020 / 7:42 AM / a month ago

UK's Inchcape warns of lower 2020 profit

Feb 27 (Reuters) - Car dealer and distributor Inchcape Plc on Thursday warned of a small drop in earnings this year after reporting a 6.9% decline in 2019 profit, hit by unrest in Hong Kong and Chile as well as supply constraints in Australia.

The company said the impact of the coronavirus outbreak remained uncertain, but added it saw reduced footfall in Hong Kong, Singapore and Macau in February.

Inchcape, which has built up operations across parts of Europe, Latin America, Asia, Africa and Australia through a mix of acquisitions and direct investment, said adjusted pretax profit for the year ended Dec. 31, fell to 326.3 million pounds ($424 million). ($1 = 0.7696 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Sriraj Kalluvila)

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