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Inchcape plc, a leading, independent, international automotive distributor and retailer, announces its annual results for the year ended 31 December 2010. Operational and strategic highlights: · Market leadership in 14 markets and increased aftersales coverage · Revenue growth of 5.4%, ahead of our expectations · Five of six regions increase operating margins, with Group margins up 70 bps · Benefit of operational leverage generates 38% increase in pre-tax profits* · Cost restructuring to generate a further £30m of annualised savings · Cash conversion of 124%*; year-end net cash of £205.8m (2009: £0.8m) Financial highlights: · Reported sales of £5.9bn (2009: £5.6bn) · Pre exceptional PBT £214.0m (2009: £155.1m) · Reported PBT £192.1m (2009: £136.7m) · Adjusted EPS* 32.0p (2009: 27.1p**) · Reported EPS 27.9p (2009: 22.9p**) · Operating cash flow £274.3m (2009: £336.7m) · Board recommends resumption of dividend payments with final dividend of 6.6p per share (2009: 0p)
http://www.investegate.co.uk/Article.aspx?id=201103080700094931C
Panmure Gordon has a buy and 472p target for Inchcape
But been in since way before the rights issue - currently my average is less than a quid :) This has got a long way to go. Company is in better shape than before the melt down and has the same number of shares (after rights issue then consolidation), but now has 1/4 billion less debt. This is easily worth £5+ and come results time and the re-introduction of a dividend I expect to see it there. Hold
UBS are latest to re-rate target price upwards and list as Buy - but the first to go to £5 as target price (others had gone over the last couple of weeks to around the £4.70 mark)
UBS lifts Inchcapes forecast ....... story on Reuters 11:41 .. aologies as can nt copy paste Reuters material
Meant 399, 499 now that would be good to see :)
Yeah Im watching, been in an out of these for 6 months, finally bought back in week or so ago at 499 only to see it fall, think this maybe a long term hold for me now.
through the 400 barrier, keep it up. Ps is there only me watching this?.
for the markets but this one is holding it's own, so that must be good.
barrier, keep on inching upwards.
I see more new cars on the road now than ever before, i've held these three times now and going to keep them as i think there's more mileage to come
given time it will - we are still some way short of where we were before the recession kicked in & the company is in far better shape now than it was then.
the 400 barrier at last, let's hope it keeps going north
This just doesnt want to punch 400 - hopefully Lacroix and the BOD can sort out a decent dividend payment and that will give this the kick it needs/deserves
I have doubled on these but dont know whether to sell now or hang on in !
Sold up today, only a very small player but managed to trebble my original stake, so thanks Inch. Funny one this, i think Inch has still a long way to go so why sell?, a profit is a profit and believe me i'm now prophet! so for me it was time to sell. Inch has had some very turbulent times these past 3 years or so and i aint getting any younger! I'm ashamed to say that i have run out of bottle on this one but good luck to you all who are still hanging in there, keep the faith, hopefully it will reach a lot higher over the next year or so.
Anybody know whats behind the sudden incease in price
Do you think the recent VAT rise will affect this share price and that of car component companies ?
The re-instatement of a div payment will take this to the next level. The company is in better shape than it was in 2006/2007 with zero debt compared to £150m back then. Share price in early 07? £6.00. This is a long term hold
Just read back a bit further the board are recommending to pay one for the end of 2010, but will not decide until March 2011.
why should we be getting one?, come on INCh keep going up.
Has anybody heard anything about any dividend payment???.
Making cutbacks, but possibly expansion here http://siva-sg.jobstreet.com/_ja/jobstreetAssist.asp?companyid=4891
Whats with this sudden price drop, has there been any bad publicity for inch or the automotive industry?