New Risk • Jul 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Jul 29
First half 2026 earnings released: EPS: UK£0.23 (vs UK£0.32 in 1H 2025) First half 2026 results: EPS: UK£0.23 (down from UK£0.32 in 1H 2025). Revenue: UK£4.72b (up 9.3% from 1H 2025). Net income: UK£83.0m (down 34% from 1H 2025). Profit margin: 1.8% (down from 2.9% in 1H 2025). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Retail Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Jul 28
Inchcape plc Declares Interim Dividend for the Six Months Ending 30 June 2026, Payable on 14 September 2026 The Board of Inchcape plc declared an interim dividend of 10.8 pence per ordinary share (H1 2025: 9.5 pence) for the six months ending 30 June 2026 which will be paid on 14 September 2026 to shareholders on the register at close of business on 7 August 2026. The Dividend Reinvestment Plan is available to ordinary shareholders and the final date for receipt of elections to participate is 21 August 2026. Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Felipe Del Rio Goudie was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 24
Inchcape plc (LSE:INCH) agreed to acquire Silver Star Retail EAD. Inchcape plc (LSE:INCH) agreed to acquire Silver Star Retail EAD on May 22, 2026. For the period ending December 31, 2025, Silver Star Retail EAD reported total revenue of €280 million. The transaction is subject to customary conditions and approvals and is expected to complete in Q3, 2026. Announcement • Mar 24
Inchcape plc, Annual General Meeting, May 14, 2026 Inchcape plc, Annual General Meeting, May 14, 2026. Location: the royal automobile club, 89 pall mall, st jamess, sw1y 5hs, london United Kingdom Announcement • Mar 21
Inchcape plc Announces Directorate Changes Inchcape PLC announced the following changes to the Board of Directors. Following three years on the Board, Juan Pablo Del Río will step down in May 2026 and will not be seeking re-election at the Annual General Meeting. Felipe Del Río will be appointed to the Board on May 14, 2026 and will also stand for election at the Annual General Meeting. Felipe is an Industrial Civil Engineer with more than five decades of senior executive, board level and entrepreneurial experience across automotive distribution, financial services, real estate, insurance, higher education and public administration. Felipe brings a wealth of automotive and corporate experience and will continue the representation of the Del Río family on the Inchcape Board. Felipe is also Board President of Dercorp Holding company, 4 Life Insurance company, Huillinco, Sociedad de Rentas Inmobiliarias SpA, and Fundación Emprepolis. Announcement • Jan 14
Inchcape plc to Report First Half, 2026 Results on Jul 28, 2026 Inchcape plc announced that they will report first half, 2026 results on Jul 28, 2026 Announcement • Oct 24
Inchcape plc Reiterates Earnings Guidance for the Fiscal Year 2025 Inchcape plc reiterated earnings guidance for the fiscal year 2025. For the year, the company higher EPS growth, relative to profit growth: Driven by operating performance and capital allocation and in-line with medium term target of >10% EPS CAGR. Announcement • Oct 23
Inchcape plc to Report Fiscal Year 2025 Results on Mar 03, 2026 Inchcape plc announced that they will report fiscal year 2025 results on Mar 03, 2026 Announcement • Oct 02
Inchcape plc Appoints Tracy Clarke as A Non-Executive Director with Effect from 31 December 2025 Inchcape plc announced the appointment of Tracy Clarke as a Non-Executive Director with effect from 31 December 2025. Tracy Clarke has had a 35-year executive career with Standard Chartered Bank in which time she held several senior positions across a variety of functions. During her tenure she led operations in Europe and the Americas, as well as private banking internationally. She is also a seasoned non-executive director with experience gained from a diverse range of organisations. She has extensive knowledge of remuneration, M&A, and emerging markets. She is currently a non-executive director at Haleon plc and TP ICAP Group plc, and also senior independent director of Starling Bank Limited. Announcement • Jun 26
Inchcape plc Re-Iterates Earnings Guidance for the Fiscal Year 2025 Inchcape plc re-iterated earnings guidance for the fiscal year 2025. For the year, the company Higher EPS growth expected, driven by profit growth and on-going share buybacks. Announcement • Mar 14
Inchcape plc Announces Directorate Change, with Effect from 13 April 2025 Inchcape plc announced that Sarah Kuijlaars, Non-Executive Director and Chair of the Audit Committee, has resigned from the Board of Inchcape plc with effect from 13 April 2025, due to scheduling conflicts with her executive responsibilities. The Company also confirms that Stuart Rowley, who joined the Board in July 2023, will succeed Sarah Kuijlaars as Chair of the Audit Committee. Accordingly, the membership of the Audit Committee from 13 April 2025 will be Stuart Rowley, Byron Grote, and Alison Platt, all of whom are independent Non-Executive Directors. Announcement • Mar 05
Inchcape plc, Annual General Meeting, May 15, 2025 Inchcape plc, Annual General Meeting, May 15, 2025. Announcement • Mar 04
Inchcape plc Proposes Final Ordinary Dividend for the Year 2024, Payable on 16 June 2025 The Board of Inchcape plc has proposed a final ordinary dividend of 17.2 pence, which is subject to the approval of shareholders at the 2025 Annual general meeting, and if approved will be paid on 16th June 2025. This follows an interim dividend of 11.3 pence, and takes the total dividend in respect of fiscal year 2024 to 28.5 pence. The Dividend Reinvestment Plan is available to ordinary shareholders and the final date for receipt of elections to participate is 23rd May 2025.
Ex-dividend date for 2024 full year dividend is 1 May 2025. Record date is 2 May 2025. Payment date is 16 June 2025. Announcement • Feb 27
Inchcape plc to Report First Half, 2025 Results on Jul 29, 2025 Inchcape plc announced that they will report first half, 2025 results on Jul 29, 2025 Announcement • Oct 24
Inchcape plc to Report Fiscal Year 2024 Results on Mar 04, 2025 Inchcape plc announced that they will report fiscal year 2024 results on Mar 04, 2025 Announcement • Aug 01
Group 1 Automotive, Inc. (NYSE:GPI) completed the acquisition of Inchcape U.K. Dealerships from Inchcape plc (LSE:INCH). Group 1 Automotive, Inc. (NYSE:GPI) entered into a definitive agreement to acquire Inchcape U.K. Dealerships from Inchcape plc (LSE:INCH) for approximately £346 million on April 15, 2024. The transaction is an all-cash transaction, inclusive of £220 million of appraised real estate value. In 2023, the Inchcape U.K. dealerships generated approximately £2.1 billion in annual revenues. The transaction is subject to the receipt of approval from the Financial Conduct Authority and is expected to close in the third quarter of 2024. J.P. Morgan Securities LLC acted as exclusive financial adviser to Group 1 on the transaction. Faye Garvey , James Vernon, Eleanor Hart, Lorna McCaa, John Finnick, Christopher Graf, Lorna Rogers Dentons UK and Middle East LLP acted as legal advisers to Group 1. Roddy Martin, Casey Dalton, Natalia Rodriguez, Sam Brown, Paul Ellerman and Tim Leaver, Clive, Kristen Roberts, Kathryn Oie from Herbert Smith Freehills LLP acted as legal advisors to Inchcape plc (LSE:INCH) in the transaction.
Group 1 Automotive, Inc. (NYSE:GPI) completed the acquisition of Inchcape U.K. Dealerships from Inchcape plc (LSE:INCH) on August 1, 2024. The completion of the Disposal follows approval from the Financial Conduct Authority obtained on July 29, 2024. Announcement • Jul 30
Inchcape plc Declares Interim Dividend, Payable on September 6, 2024 The Board of Inchcape plc has declared an interim dividend of 11.3 pence per ordinary share which will be paid on 6th September 2024 to shareholders on the register at close of business on 9th August 2024. The Dividend Reinvestment Plan is available to ordinary shareholders and the final date for receipt of elections to participate is 15th August 2024. Announcement • May 10
Inchcape plc Announces Board and Committee Changes Inchcape plc announced following the conclusion of Annual General Meeting held on May 9, 2024, the following Board changes have now taken immediate effect: Jerry Buhlmann succeeds Nigel Stein as Chairman of the Board. Jerry will step down from being a member of the Company's Audit Committee. Alison Platt is appointed as Senior Independent Director of the Company. Nigel Stein has retired from the Board. Upcoming Dividend • Apr 25
Upcoming dividend of UK£0.24 per share Eligible shareholders must have bought the stock before 02 May 2024. Payment date: 17 June 2024. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (5.8%). In line with average of industry peers (4.6%). Announcement • Apr 02
AutoNation Reportedly Eyes Driving Seat at Inchcape UK Sky News has learned that AutoNation, Inc. (NYSE:AN), which has a market capitalisation of nearly $7 billion (£5.5 billion), is among the suitors circling the business since Inchcape plc (LSE:INCH) confirmed in January it was conducting a strategic review. AutoNation is said to be at the early stages of considering an offer and may yet not decide to proceed with one, according to industry sources. If it does go ahead, it would represent a first step into the UK for AutoNation after it withdrew six months ago from a bidding war for Pendragon, another London-listed car dealer. A deal could be worth in the region of £350 million, insiders said. AutoNation failed to respond to several emailed and telephoned requests for comment. The Inchcape UK division consists of 70 sites, employing 3,700 people, and works with car manufacturers including Audi, BMW, Jaguar, Toyota and Volkswagen. New Risk • Mar 31
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Declared Dividend • Mar 08
Final dividend increased to UK£0.24 Dividend of UK£0.24 is 14% higher than last year. Ex-date: 2nd May 2024 Payment date: 17th June 2024 Dividend yield will be 5.2%, which is higher than the industry average of 4.6%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 8.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 53% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: UK£0.66 (vs UK£0.61 in FY 2022) Full year 2023 results: EPS: UK£0.66 (up from UK£0.61 in FY 2022). Revenue: UK£11.4b (up 41% from FY 2022). Net income: UK£270.0m (up 17% from FY 2022). Profit margin: 2.4% (down from 2.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Mar 05
Inchcape plc to Report First Half, 2024 Results on Jul 30, 2024 Inchcape plc announced that they will report first half, 2024 results on Jul 30, 2024 Announcement • Jan 30
Inchcape plc's Response to Media Reports Relating to UK Retail Business The Board of Inchcape plc (LSE:INCH) notes the recent press speculation in relation to UK Retail business. Inchcape confirms that following approaches from a number of interested parties it is reviewing strategic options for the UK Retail business, which potentially could include a sale. This review is at a very early stage and there can be no certainty that it will result in a transaction. Announcement • Dec 15
Inchcape plc, Annual General Meeting, May 09, 2024 Inchcape plc, Annual General Meeting, May 09, 2024. Announcement • Dec 14
Inchcape plc Announces Board Changes Inchcape plc announced the retirement of Nigel Stein as Chair of its Board of Directors and the appointment of Alison Platt as a Non-Executive Director. Alison joins the Board on 2 January 2024 and will succeed Jerry Buhlmann as Senior Independent Director in May 2024. Nigel, who has been the Chair since 2018 and a Board member since 2015, will be standing down at the AGM, given his nine-year term as a member of the Board will come to an end during 2024. Jerry has over 40 years' experience in the media and advertising industries and was formerly CEO of Aegis Group plc and Dentsu Aegis Network. Jerry is currently Chair of private equity-owned digital marketing agencies - Dept, Croud Limited, and Hybrid and is also a member of the Supervisory Board of ServicePlan GmBH. Alison currently serves as chair for Dechra Pharmaceuticals PLC, and will join as Chair of Hargreaves Lansdown in early 2024. She also serves as Non-Executive Director and Chair of the Remuneration Committee for Tesco, and as Chair of Ageas UK, which is unlisted. She previously held senior leadership positions at Countrywide Group Ltd., where she was CEO, BUPA and British Airways Plc as well as Chair of Legal & General Financial Advice and Non-Executive Director at Cable & Wireless Communications plc and the Foreign and Commonwealth Office. Recent Insider Transactions • Sep 14
Group CEO & Director recently sold UK£323k worth of stock On the 8th of September, Duncan Tait sold around 42k shares on-market at roughly UK£7.61 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Duncan's only on-market trade for the last 12 months. Announcement • Aug 04
Inchcape plc (LSE:INCH) Completed the acquisition of 60% stake in CATS Group of Companies. Inchcape plc (LSE:INCH) announces an agreement to 60% stake in CATS Group of Companies on January 17, 2023. The remaining 40% being owned by CATS' founding Ang family and its associates, who will also continue to be represented on the CATS Board, by Felix Ang, and in the management team. The transaction remains subject to customary conditions with completion anticipated in the second half of 2023.
Inchcape plc (LSE:INCH) Completed the acquisition of 60% stake in CATS Group of Companies on August 2, 2023. Reported Earnings • Jul 28
First half 2023 earnings released: EPS: UK£0.32 (vs UK£0.36 in 1H 2022) First half 2023 results: EPS: UK£0.32 (down from UK£0.36 in 1H 2022). Revenue: UK£5.63b (up 45% from 1H 2022). Net income: UK£132.1m (down 3.7% from 1H 2022). Profit margin: 2.3% (down from 3.5% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Jul 13
Inchcape plc Announces Directorate Change Effective 17 July 2023 Inchcape plc announced the appointment of Stuart Rowley as a Non-Executive Director with effect from 17 July 2023. Stuart will become a member of the Audit and Nomination Committees upon appointment. Stuart Rowley recently retired from Ford Motor Company after more than 30 years' service. He brings a deep understanding of the global automotive industry having begun his career as a finance leader before transitioning to general management, operations and strategy roles, most recently as President and Chair of Ford Europe, and Chief Transformation & Quality Officer of Ford Motor Company. Buying Opportunity • Jul 06
Now 21% undervalued Over the last 90 days, the stock is up 1.3%. The fair value is estimated to be UK£9.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has grown by 34%. For the next 3 years, revenue is forecast to grow by 9.8% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Buying Opportunity • Jun 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be UK£9.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has grown by 34%. For the next 3 years, revenue is forecast to grow by 9.8% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Buying Opportunity • May 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be UK£9.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has grown by 34%. For the next 3 years, revenue is forecast to grow by 9.8% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Buying Opportunity • May 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be UK£9.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has grown by 34%. For the next 3 years, revenue is forecast to grow by 10.0% per annum. Earnings is also forecast to grow by 16% per annum over the same time period. Recent Insider Transactions • Mar 29
Key Executive recently bought UK£78k worth of stock On the 28th of March, Nigel Stein bought around 11k shares on-market at roughly UK£7.09 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Nigel's only on-market trade for the last 12 months. Reported Earnings • Mar 25
Full year 2022 earnings released: EPS: UK£0.61 (vs UK£0.30 in FY 2021) Full year 2022 results: EPS: UK£0.61 (up from UK£0.30 in FY 2021). Revenue: UK£8.13b (up 6.4% from FY 2021). Net income: UK£229.9m (up 97% from FY 2021). Profit margin: 2.8% (up from 1.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Feb 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Byron Grote was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 18
Inchcape plc (LSE:INCH) agreed to acquire 60% stake in CATS Motors Inc. Inchcape plc (LSE:INCH) announces an agreement to 60% stake in CATS Group of Companies on January 17, 2023. The remaining 40% being owned by CATS' founding Ang family and its associates, who will also continue to be represented on the CATS Board, by Felix Ang, and in the management team. The transaction remains subject to customary conditions with completion anticipated in the second half of 2023. Board Change • Oct 31
High number of new directors Independent Non-Executive Director Sarah Kuijlaars was the last director to join the board, commencing their role in 2022. Buying Opportunity • Sep 06
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be UK£9.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.7% over the last 3 years. Earnings per share has grown by 7.8%. Revenue is forecast to grow by 1.5% in 2 years. Earnings is forecast to grow by 11% in the next 2 years. Reported Earnings • Jul 29
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down UK£23.9m from profit in 1H 2021). Profit margin: (down from 0.6% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to decline by 4.5% while the industry in the United Kingdom is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Buying Opportunity • Jun 11
Now 22% undervalued Over the last 90 days, the stock is up 2.4%. The fair value is estimated to be UK£8.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.9% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings is also forecast to grow by 31% per annum over the same time period. Buying Opportunity • May 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be UK£8.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.9% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings is also forecast to grow by 31% per annum over the same time period. Upcoming Dividend • May 05
Upcoming dividend of UK£0.16 per share Eligible shareholders must have bought the stock before 12 May 2022. Payment date: 21 June 2022. Payout ratio is on the higher end at 75%, however this is supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of British dividend payers (4.6%). Higher than average of industry peers (2.0%). Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Sarah Kuijlaars was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • Apr 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be UK£8.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.9% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings is also forecast to grow by 20% per annum over the same time period. Buying Opportunity • Apr 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be UK£8.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.9% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings is also forecast to grow by 20% per annum over the same time period. Reported Earnings • Feb 25
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: UK£0.30 (up from UK£0.36 loss in FY 2020). Revenue: UK£7.64b (up 12% from FY 2020). Net income: UK£117.0m (up UK£257.1m from FY 2020). Profit margin: 1.5% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 2.3%, compared to a 2.0% growth forecast for the retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Board Change • Feb 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Sarah Kuijlaars was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
First half 2021 earnings released: EPS UK£0.061 (vs UK£0.48 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: UK£3.93b (up 30% from 1H 2020). Net income: UK£23.9m (up UK£214.3m from 1H 2020). Profit margin: 0.6% (up from net loss in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • May 06
Upcoming dividend of UK£0.069 per share Eligible shareholders must have bought the stock before 13 May 2021. Payment date: 21 June 2021. Trailing yield: 0.9%. Lower than top quartile of British dividend payers (4.1%). Lower than average of industry peers (1.2%). Reported Earnings • Mar 20
Full year 2020 earnings released: UK£0.36 loss per share (vs UK£0.79 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: UK£6.84b (down 27% from FY 2019). Net loss: UK£140.1m (down 143% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Feb 26
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: UK£6.84b (down 27% from FY 2019). Net loss: UK£140.1m (down 143% from profit in FY 2019). Analyst Estimate Surprise Post Earnings • Feb 26
Revenue beats expectations Revenue exceeded analyst estimates by 1.9%. Over the next year, revenue is forecast to grow 7.5% while theRetail Distributors industry in the United Kingdom is not expected to grow. Is New 90 Day High Low • Feb 20
New 90-day high: UK£7.10 The company is up 14% from its price of UK£6.23 on 20 November 2020. The British market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£6.53 per share. Is New 90 Day High Low • Feb 04
New 90-day high: UK£6.79 The company is up 19% from its price of UK£5.69 on 06 November 2020. The British market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Retail Distributors industry, which is up 29% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£6.64 per share. Is New 90 Day High Low • Dec 30
New 90-day high: UK£6.68 The company is up 48% from its price of UK£4.51 on 01 October 2020. The British market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£6.81 per share. Is New 90 Day High Low • Dec 05
New 90-day high: UK£6.32 The company is up 36% from its price of UK£4.66 on 04 September 2020. The British market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£7.24 per share. 
