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Inchcape H1 profit climbs YOY

Inchcape PLC said its normalized net income for the first half came to 22 Great British pence per share, a gain of 7.3% from 20 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £95.4 million, an increase from £92.0 million in the prior-year period.

Total revenue increased 11.2% on an annual basis to £3.76 billion from £3.38 billion, and total operating expenses grew 11.6% on an annual basis to £3.59 billion from £3.22 billion.

Reported net income increased 5.1% from the prior-year period to £118.6 million, or 27 pence per share, from £112.8 million, or 25 pence per share.