markets · · proactiveinvestors.com
Inchcape shares fall 7% as Australian weakness cuts margin outlook
Inchcape PLC (LSE:INCH), the automotive distributor, fell 7% to 642p on Thursday after weak Australian trading forced it to lower its full-year operating margin outlook to 5.5%. The shares dropped 48p as investors assessed the impact of weaker demand for Subaru vehicles in Australia and the risk of further earnings downgrades.
Inchcape PLC (LSE:INCH), the automotive distributor, fell 7% to 642p on Thursday after weak Australian trading forced it to lower its full-year operating margin outlook to 5.5%. The shares dropped 48p as investors assessed the impact of weaker demand for Subaru vehicles in Australia and the risk of further earnings downgrades.
- #IHCPF