Inchcape swings to loss as revenue slumps 27% on virus impact; resumes dividend | 25 February 2021
25 February 2021 | 09:46am StockMarketWire.com - Automotive distributor and retailer Inchcape swung to a loss as revenue fell by more than third amid lockdown restrictions that dented demand. The company did resumed its dividend at lower rate, citing a strength in its finances. For the year ended 31 December 2020, pre-tax losses were £128 million from a profit of £402 million last year as revenue fell 27% to £6.84 billion. 'We made an encouraging start to the year, but in Q2 our operations were materially impacted by COVID-19, the company said. But it saw an improving trend across our ne...
Source: stockmarketwire.com