Inchcape in the fast lane
27th Oct 2011 09:19
Car dealer Inchcape's third quarter revenues were "slightly better" than expected as strength in Asia Pacific and emerging markets helped offset weak consumer confidence in Europe. Inchcape, which operates in 26 countries, pointed to a better than expected performance in Hong Kong and Singapore and
Read moreUPDATE: Thursday broker round-up
27th Oct 2011 09:09
Smith&Nephew: Citi reiterates sell. Anglo American: Citi maintains at buy. Invensys: UBS raises to neutral-short term buy from neutral. Lowers target to 225p from 250p. Bellway: UBS keeps at buy, raises target price to 825p from 793p. Lloyds: Credit Suisse cuts target to 31p from 40p, keeps at
Read moreLondon close: Late rally lifts stocks
28th Jul 2011 16:41
Stocks finished in positive territory after a choppy day, with US economic data helping to spark a late rally. Weekly Initial jobless claims in the world's biggest economy fell below 400,000 for the first time since April and homes sales data also came in ahead of expectations. The rush of company
Read moreFTSE 250 Movers: Inchcape moves into the fast lane
28th Jul 2011 13:30
Car dealer Inchcape zoomed ahead after reporting a 10.1% increase in half year pre-tax profit as demand from Asia Pacific and the Emerging Markets outweighed sluggishness in the UK and Europe. Pre-tax profit rose to £126.8m in the six months ended 30 June 2011 from £115.2m in 2010. Reported sales
Read moreAsia Pacific demand bolsters Inchcape
28th Jul 2011 07:49
Car dealer Inchcape reported a 10.1% increase in half year pre-tax profit as demand from Asia Pacific and the Emerging Markets outweighed sluggishness in the UK and Europe. Pre-tax profit rose to £126.8m in the six months ended 30 June 2011 from £115.2m in 2010. Reported sales fell to £2.9bn during
Read moreElevator man buys BP shares
24th May 2011 15:36
Non-executive director George David bought more than £800,000 of shares in BP yesterday, the oil giant announced today. He bought 30,000 American Depositary Receipts (ADS), which is equivalent to 180,000 ordinary BP shares. He paid $43.99 each for half of the ADSs and $43.98 for the other half. Da
Read moreInchcape to ride out Japanese disruption
12th May 2011 18:11
Car dealer Inchcape was stuck in neutral Thursday as it reported on an uneven global recovery in the car industry. The group's first quarter turnover of £1.56bn was down 0.6% on a year earlier, though favourable exchange rate movements flattered the performance; on a constant currency basis, sales
Read moreLondon close: Carnival sinks
22nd Mar 2011 16:57
A confident start was derailed by worse than expected inflation figures and a rally in the final hour of trading only brought out profit takers right at the death, leaving Footsie in the red. UK annual inflation rose faster than predicted in February, as surging utility bills drove up living costs.
Read moreFTSE 250 movers: Rank bucks the trend
22nd Mar 2011 15:53
Casino and bingo hall operator Rank Group is bucking the downward trend Tuesday following the receipt of £74.8m it overpaid on its bingo revenues, with more to come in interest payments. Previous guidance had estimated the repayment would be £65m plus interest. Car seller Inchcape is the worst perf
Read moreLondon afternoon: Downward drift continues
22nd Mar 2011 14:09
Footsie lost more ground over the lunch time session as Wall Street opened mixed, failing to carry on the strong advance seen yesterday. GKN is lower on speculation of a bid for French peer Latecoere. The French aerospace firm, which provides doors for Boeing and Airbus, is looking for a buyer, acc
Read moreWednesday tips round-up: Antofagasta, Weir, Inchcape...
9th Mar 2011 06:48
Copper miner Antofagasta already trades at "considerably higher multiples than those of Kazakhmys or indeed the major diversified miners", according to brokers. Given that, it is not a buy but the company's strengths and the confidence evidenced by the special dividend means this is not a sell say
Read moreInchcape beats forecasts, resumes divi
8th Mar 2011 07:15
Car dealership Inchcape revealed better than expected full year results, resumed its dividend payment and said it is confident of a solid performance in 2011 as it continues to tap into fast growing emerging market and Asia-Pacific economies. The group, which makes around 65% of trading profit fro
Read moreTuesday preview: Inchcape, Old Mutual, Ashtead ...
7th Mar 2011 17:00
For all the worries over consumer spending, car dealerships seem to do reasonably well in 2010, especially those with international networks such as Inchcape. At its interim management statement in October Inchcape lifted profits guidance for the year following a strong third quarter. Revenues in t
Read moreFTSE 250 movers: Salamander higher after drilling update
17th Jan 2011 15:45
Salamander Energy is higher after announcing that it has started drilling on its Dao Ruang-2 appraisal well in block L15/50 in north east Thailand. Car dealer Inchcape is among the risers after broker Panmure Gordon retained its 'buy' rating on the stock and increased earnings forecasts. "We belie
Read moreLondon close: Late dip slows Footsie's progress
21st Oct 2010 16:42
A late sag pulled Footsie back after it seemed destined for its highest close since the middle of April. Good company news and a bright start on Wall Street, with the Dow up 100 points at the start, meant a strong afternoon session in London, but blue chips eased back as the day ended. BT was the
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