Investment column: Inchcape
Tuesday 10 August 1999
The group yesterday sought to convince investors its markets were about to turn. They couldn't get any worse; the Hong Kong car market fell 34 per cent in the period, and Latin America plunged 45 per cent. With three- quarters of group sales sourced overseas, Inchcape has taken a battering.
In the UK, sales were affected by Inchcape's refurbishment of 47 of its 57 dealerships. The aim is to lift margins here from 8 per cent to 12 per cent.
Inchcape says the real driver of earnings growth will be recovery in its markets. It has also extended its range of related motor sales services. Naturally it has gone on to the Internet, and wholly owns the UK website of Autobytel, the US online motor trader, which has 350,000 regular users.
WestLB Panmure expects pre-tax profits of pounds 87m and earnings of 60.4p this year, rising to pounds 93.5m and 63.6p next. That is hardly stunning earnings growth and given Inchcape's markets, the shares are unlikely to motor forward for some time.
Diving in at the deep end is no excuse for shirking the style stakes
- 2 Why I'm on the brink of burning my Israeli passport
- 4 War is war: Why I stand with Israel
- 5 Blackest is the new black: Scientists have developed a material so dark that you can't see it...
Ian Thorpe gay: Olympic swimmer comes out in Parkinson interview
Stephen Fry ‘criticises Operation Yewtree in dinner party rant’ calling for tougher laws to deter false sex abuse allegations
Israel-Gaza conflict: ‘Sderot cinema’ image shows Israelis with popcorn and chairs 'cheering as missiles strike Palestinian targets'
Israel-Gaza conflict: Israeli air strike destroys home for the disabled killing two women residents
Israel-Gaza conflict: Israeli PM says conflict may 'continue for a long time' as hundreds of Palestinians flee their homes
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
iJobs Money & Business
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...