Inchcape: Footsie farewell
Article Abstract:
Inchcape looks set to leave the FT-SE 100 as National Grid enters the index following its flotation in Dec 1995. Inchcape has seen a drop in its share price and has faced sluggish car sales. The company is likely to see a drop in new car registrations of 30% in Hong Kong in 1995. Imports of Japanese cars into the UK were affected by the high value of the Japanese yen in 1st half 1995. Overheads have been reduced and employees have been shed, but the chief executive, Charles Mackay, may be in a precarious position.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Inchcape
Article Abstract:
Inchcape distributes cars and provides automobile services. The company has seen a drop in its share price and its results have been affected by exceptional items. These include real estate write downs and losses realised through disposals. Restructuring also accounted for a 42.5 million pounds sterling charge in 1st half 1995. The company expects costs to be cut by 30 million pounds sterling in 1996 and 40 million pounds in following years.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Inchcape
Article Abstract:
Inchcape has reduced costs by 30 million pounds sterling through rationalisation but profit on continuing activities dropped by 1% in 1st half 1996 prior to exceptionals. The company's profits should improve rapdily once sales increase due to this reduction in its cost base. Motor distribution has performed well but retailing saw a drop in profit. The company should reap dividends from an investment in a Russian Coca-Cola bottling division.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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