Inchcape PLC (LSE:INCH) reported 8% organic revenue growth for the third quarter of fiscal year 2025, meeting expectations and benefiting from softer comparators. Total revenue for the period came in at £2.3 billion, reflecting a 7% increase on both a constant currency and reported basis.
Vehicle volumes grew 13% during the quarter, significantly outpacing the 5% rise in total industry volumes across Inchcape’s markets. This represents a marked improvement from the first half of the year, when industry volumes declined 2%. The company reaffirmed its full-year 2025 guidance, projecting another year of growth at prevailing currency rates.
“We are pleased with our performance in the third quarter, which was in line with our expectations,” said Duncan Tait, Group Chief Executive. “Inchcape’s organic revenue growth was supported by market growth, a contribution from distribution contract wins and on-going product launches.”
Regional performance showed clear momentum. The Americas posted results ahead of the market, while Asia-Pacific improved compared to the first half, with key product launches remaining on track despite lingering headwinds. Europe & Africa continued to deliver solid growth and market outperformance.
As part of its Accelerate+ strategy, Inchcape secured a new distribution agreement with GAC AION in Greece, exited several non-material contracts, completed the acquisition of Askja in Iceland to expand into a new market, and divested a non-core retail-only business in Australia representing about £100 million in annualized revenue.
The company anticipates stronger momentum in the second half of 2025, supported by the rollout of planned product launches and disciplined cost management. It also expects earnings per share growth to outpace profit growth, consistent with its medium-term EPS CAGR target of more than 10%.
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