- Inchcape reported a 5% rise in revenue, led by its distribution business as the company continued efforts to streamline its business by selling off its retail-only businesses.

From 1 July 2019 to 30 September 2019, revenue rose 5% to £2.4bn.

Distribution, which comprised 90% of profit in the first half, saw revenue grow 5%, despite the disruption in the Hong Kong market.

'With Subaru supply constraints having normalised in Australasia, and with improved currency availability in Ethiopia, we have been able to deliver profit growth over the period, excluding the anticipated Yen headwind,' the company said.

Looking ahead, underlying profit performance in the second half of the year was expected to be stronger than the first, Inchcape said.

'We reiterate our expectation for a resilient constant currency profit performance for 2019, excluding the AUD/JPY headwind. Given the expected timing of disposal and acquisition completions we expect minimal profit impact in 2019,' it added.

At 8:19am: [LON:INCH] Inchcape PLC share price was -7.25p at 632.75p

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