Inchcape Plc · LSE:INCH

Inchcape — H1 2005 Earnings Presentation

7 slides from Inchcape's earnings presentation, 2005

  1. Slide 1: Alan Ferguson, Group Finance Director

    Alan Ferguson Group Finance Director

  2. Slide 2: Operating profit

    Operating profit H1 05 H1 04 Increase £m £m Operating profit 104.1 86.1 20.9% Exceptional (profit)/loss (4.0) 2.9 Operating profit before exceptional items 100.1 89.0 12.5%

  3. Slide 3: Operating profit before exceptional items

    Operating profit before exceptional items £m H1 04 89.0 Variances at constant rates Operating units 9.2 Central costs 1.7 H1 05 at H1 04 rates 99.9 Exchange translation 0.2 H1 05 100.1

  4. Slide 4: Interest, tax and minorities

    Interest, tax and minorities • Net interest charge 2005 2004 £m £m Bank/other interest 2.0 (1.4) Stock holding interest (4.4) (3.4) (2.4) (4.8) • 2005 Headline subsidiaries tax rate* 25.5% – Benefited from: • No UK losses • Greece – one off recovery of 0.5% • Profit attributable to minorities £2.1m,

  5. Slide 5: Dividends and share buy back

    Dividends and share buy back • Interim dividend up 26.7% at 19.0p per share • Policy remains at interim stage one third/two thirds interim/final split • £31.0m returned to shareholders through buy back programme to date • Full impact on earnings yet to be seen

  6. Slide 6: Operational cash flow

    Operational cash flow H1 05 £m Operating profit before exceptional items 100.1 Depreciation/amortisation 13.3 Working capital (5.2) Other 6.6 Cash generated from operations 114.8 Net capex (35.1) Operational cash flow 79.7

  7. Slide 7: Total cash flow

    Total cash flow H1 05 £m Operational cash flow 79.7 Acquisitions (28.5) Disposals* (5.5) Tax/interest (29.8) Other (mainly effect of foreign exchange rates) 10.2 Free cash flow 26.1 Share buy back/dividends (58.2) Total net funds movement (32.1) * Includes payment of £6.8m in claims re non-motors bu

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