Inchcape sales fall 32%

Inchcape PLC reported a 32% decline in sales in the first four months of the year, but said it had strong liquidity and a flexible cost base to weather the pandemic. Revenue was £2.1bn in the four months to 30 April, down 25% on a like-for-like basis, with distribution down 22% and retail down 28%. Inchape is open in 25 markets but remains closed in eight others, including the UK, Singapore and Chile.

Source: Proactive Investors