Inchcape (GB:INCH) has released an update.
Inchcape PLC, a leading global automotive distributor, has reported solid financial growth in the first half of 2024, with revenue up by 4% and adjusted operating profit rising by 7% in constant currency terms. The company has reached a strategic milestone, transforming into a pureplay automotive Distribution business, following the sale of its UK Retail business. Additionally, Inchcape has reinforced its commitment to shareholder returns by announcing an increased share buyback program of £150 million.
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