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INCHCAPE DRIVES ON International car dealership Inchcape said this morning that the uneven global recovery in the car industry continued in the first quarter to end-March. The Group's revenue of £1.561bn was slightly better than expectations with total revenue in line with the same period last year at actual currency (0.9% below in constant currency) and like for like revenue up by 1.4% in actual currency (0.5% ahead of last year in constant currency). Revenues from new cars were ahead of expectations due to the strong performance of premium and luxury brands both in the UK and in the Russia and Emerging Markets segment. Used car margins remained solid and the Aftersales business continued to perform well. The UK business delivered a strong first quarter performance with like for like revenues up by 4.9%, ahead of expectations. The used car margin remained solid and the Aftersales business continued to deliver a robust performance. Against a challenging backdrop, the European business delivered a resilient financial performance in line with expectations. Revenue declines in new car sales were partially offset by a solid Aftersales performance and previously announced cost reduction actions. In Asia, Inchcape delivered a performance in line with expectations in both Hong Kong and Singapore. Singapore delivered a healthy margin despite restricted supply as the group benefited from strong Aftersales momentum. In Australia, the demand for new cars remains solid with the new car market up by 4.7% in the first quarter. The business delivered a performance in line with expectations as it successfully launched the new Subaru XV in January. As of the beginning of the second quarter, the supply situation is back to normal following the launch of the new Subaru Impreza. The performance in the Russia and Emerging Markets segment was slightly ahead of expectations as we delivered revenue growth of 19.5% in the first quarter. Working capital and inventory management are in line with expectations and our financial position remains strong. Year end net cash guidance remains unchanged at £180m. André Lacroix, Group CEO, said: 'We have had a good start to the year. The demand for premium and luxury vehicles was ahead of expectations in the UK, which included the important month of March, and in the Russia and Emerging Markets segment. Trading was in line with expectations in Europe, South Asia, North Asia and Australia. 'We continue to expect to deliver a solid trading performance for 2012 as we will continue to benefit from our unique business model and focus on our differentiated Customer 1st strategy. 'We believe that the Group is well positioned moving forward to leverage the many exciting growth opportunities in the premium and luxury segment in our markets.' Source: http://www.stockmarketwire.com/article/4366116/Inchcape-drives-on.html
Panmure Gordon upgrades Inchcape from hold to buy, target price raised from 410p to 430p.
the BMW/MINI dealers are caller Cooper.
At which garages/franchises are these?
Eligible shareholders are entitled to the following discounts: •15% discount on service, parts and accessories •£100 off the retail price of used cars •£100 off the retail price of new cars These benefits exclude the Porsche businesses and other exclusive vehicles where availability is limited. In order to qualify for these discounts, shareholders must provide suitable evidence of their status as an Inchcape shareholder prior to the commencement of any negotiations. 100 shares.needed.
After soaring 11% when its full-year numbers were released on March 13, shares of car dealership firm Inchcape are now back to the same level they were at before the numbers were unveiled. However, for investors with a long-term view, this has presented an opportunity. The post-results share price leap was for a good reason. The company has been cutting costs from its business over the last few years leaving it in a lean position to benefit from a market improvement. Profits in 2011 were just shy of record profits achieved in 2007, yet revenues were 15% below that level. The company's 4.5% trading margin in 2011 was a 30 basis point improvement on 2010 and only 40 basis points below the peak margin level achieved in 2006. Also, more than two-thirds of operating profits are now generated in the emerging markets and the Asia-Pacific region. Trading on a December 2012 earnings multiple of 10.1, falling to 9.3 next year, the shares were last tipped at 326.3p on November 11 last year. They remain a buy, Questor says.
now gone.
Nomura has reiterated its neutral rating and 390p target price on car retailer and distributor Inchcape, saying that while the results were broadly in line with expectations, there are some concerns over the global economic environment. The broker says that management sounded cautious over the outlook in the EU, with concerns still surrounding Greece, Belgium and the UK. Thailand flood-related supply issues continue to have an impact also.
Car retailer Inchcape (INCH) reported adjusted pre-tax profits of 227.7 million pounds for the year ended 31st December 2011, up 6.4% on 2010's performance, despite a decline in revenues of 0.1 billion pounds to 5.8 billion pounds. The group compensated for reduced supply from Japan, following the tsunami in March 2011, by employing a number of cost cutting initiatives. The company noted that while trading conditions are expected to remain challenging in Europe it believes it is well positioned to take advantage of growing demand in Asia Pacific. Inchcape shares soared by 41.3p to 418.2p
and claiming
through 410, lets keep going, is because of new car sales? GLA
for a few days then through the 400 barrier, come on INCH
when banks are down this will be up.
Somebody knows something?????????????????????????????????????????
next marker, then keep going upwards.
5.00 shooooort
this morning so definately inching up
There seem sto be some real resistance to this big old beast getting past 350, if it does push past does anybody have any idea's where the next resistnce will be? any chartists out there than can help? Thanks.
Inching up, still with you after 18 months, just in profit, but bought and sold three times and made a little each time!.
The last three days or so have shown some good gains here. Are we expecting news of some sort?
defanetly sent
sent
its almost time to short this dog another 5 to 10 points.
Like a firework on the way up. Lets hope it runs the true race to what they are worth rather than burn out in 50 second ! PROBY; Can you also find me a new "her indoors" cause when they hit £5 Ill be able afford a new one of those as well (only kidding of course)!
Dear Kaise7, I have a very large holding in INCH and I remember the days of £36 per share long before all of this turmoil These will come good again and surpass £4 easily I may consider selling when they hit £5 as for the new Merc, let me know when you are ordering an I'll gladly supply, All the best.