Q1 2023 Inchcape PLC Trading Statement Call Transcript

Apr 27, 2023 / 07:30AM GMT
Operator

Hello and welcome to Inchcape Q1 results conference call. Please note, this call is being recorded. (Operator Instructions) I will now hand over to your host, Duncan Tait, CEO of Inchcape to begin today's conference. Thank you.

Duncan Tait - Inchcape plc - Group CEO & Director

Thank you, Susan. Good morning, everyone, and thank you for joining us. With me on the call is our Acting CFO, Adrian Lewis; and our Head of Investor Relations, Raghav Gupta. I will begin by commenting on the group's performance and outlook before handing over to Adrian, who will give more detail. We'll then take your questions. So as detailed in this morning's announcement, the group's Q1 performance has been excellent with continued strong business momentum reflected in our strategic, operational and financial progress. In the first quarter, we reported revenue of GBP 2.7 billion, with growth of 50% on a reported basis, reflecting the benefit of M&A, including Derco. On an organic basis, revenue grew 13% with a continuation of the trends experienced at the end of last year and

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