Q1 2022 Inchcape PLC Trading Statement Call Transcript

Feb 13, 2024

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Apr 28, 2022 / 07:30AM GMT
Operator

Good day, and thank you for standing by. Welcome to the Inchcape plc Q1 Trading Update Conference Call. (Operator Instructions) I must advise you that this conference is being recorded today on Thursday, the 28th of April 2022. I would now like to turn the conference over to your speaker today, Duncan Tait. Please, go ahead.

Duncan Tait - Inchcape plc - Group CEO & Director

Good morning, everyone, and thank you for joining us. As usual, I am joined on the call by our CFO, Gijsbert de Zoeten and our Head of Investor Relations, Raghav Gupta. I'll begin by commenting on the group's performance before handing over to Gijsbert, who will give more detail. We'll then be happy to take your questions.

Let me first provide you with some details of the sale of our Russian operations, which we announced this morning, following our decision to exit Russia, we worked closely with our OEM partners and have now agreed the sale of our remaining business in Moscow to local management, led by the current CEO and CFO. Payment of the purchase price of GBP 63 million is

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