Fleet News

Inchcape results

AUTOMOTIVE services group Inchape has announced a jump in pre-tax profits, despite a 'disappointing' performance from its leasing division.

The group said although its Inchcape Fleet Solutions and AutoCascade businesses were performing 'in line with expectations' they will need to win new contracts to 'ensure that an appropriate return is generated from the investments made'.

The group, which also represents the Mercedes-Benz brand in Oxford, Stratford-Upon-Avon, Coventry and Banbury, said it was likely to benefit from reforms to the car distribution block exemption. After exceptional items, Inchcape recorded a pre-tax profit for the first half of this year of £54.3 million, up 24.5% from £43.6 million for the same period last year.

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