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Prices & Quotes - UK Markets - Inchcape (INCH)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 632.00p
Change Today:
4.50p
Market Cap:
2,485.49m
Sector:
Support Services

Inchcape April revenues plunge 76%, sees Covid hit in 2021

By Frank Prenesti

Date: Thursday 21 May 2020

LONDON (ShareCast) - (Sharecast News) - UK car dealer Inchcape said April revenues plunged 76% as it warned the coronavirus impact would be felt into 2021 and launched a review of its cost base.
The company said it was currently operating in 25 out of its 33 markets as it reported a 30% fall in revenue to 2bn for the four months to April 30. It maintained its "no guidance" stance on future earnings.

Inchcape last month scrapped dividend and cut management pay to bolster its balance sheet and conserve cash.

"Overall, group revenues in April were down 76% LFL, mainly due to the disruption caused by Covid-19. The impact of closures on profitability will be pronounced, and result in a drop-through to operating profit of approximately 10% of lost revenues," said outgoing chief executive Stefan Bomhard.

"While the situation remains dynamic, as restrictions begin to ease it is expected that the ramp-up of business activity will be gradual. With the effects of Covid-19 likely to result in a prolonged economic impact, the group is conducting a comprehensive review of its cost-base."

The group said it had been confirmed as an eligible issuer under the UK Government's Covid Corporate Financing Facility (CCFF) and had drawn down 100m at May 21.

Inchcape added that it had 245m in available cash and 420m of headroom in its revolving credit facility with current net debt of 210m.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Inchcape Market Data

Currency UK Pounds
Price 632.00p
Change Today 4.50p
52 Week High 720.00p
52 Week Low 420.00p
Volume 732,799
Shares Issued 393.27m
Market Cap 2,485.49m

Performance Indicators

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What The Brokers Say

Strong Buy 6
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 7
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Inchcape Dividends

  Latest Previous
  Interim Final
Ex-Div 01-Aug-19 16-May-19
Paid 04-Sep-19 21-Jun-19
Amount 8.90p 17.90p

Trades for 04-Dec-2020

Time Volume / Share Price
16:35 372,157 @ 632.00p
16:29 122 @ 631.00p
16:29 350 @ 631.50p
16:29 123 @ 631.00p
16:29 350 @ 631.50p

Inchcape Key Personnel

Chair Nigel Stein
CFO Gijsbert de Zoeten
CEO Duncan Tait