Inchcape has elevated adjusted pre-tax earnings by 35% to £249 million over the primary six months of the yr, fuelled by its acquisition of Derco in Latin America.

The enterprise noticed world revenues improve by 45% to £5.6 billion, which it stated was supported by the Derco acquisition, in addition to a 13% improve in natural income progress.

Duncan Tait, Inchcape group chief govt, stated: “Inchcape has produced one other wonderful efficiency throughout the first half of 2023, pushed by progress from acquisitions and by constantly robust natural progress.

“Particularly, the acquisition of Derco has reworked our market place within the Americas and is already having a optimistic affect on the group.”

Tait stated the H1 efficiency highlights Inchcape’s “continued industrial momentum”, supported by its world scale and long-standing OEM relationships, underpinned by a “extremely differentiated know-how platform”.

He stated the enterprise within the Americas and Asia Pacific areas are performing nicely, whereas its European operations are additionally performing nicely “regardless of challenges in sure markets”.

Inchcape signed 11 distribution offers and acquisitions within the first half of the yr, together with a world strategic settlement with Nice Wall Motors, the model behind GWM Ora.

Tait added: “Inchcape continues to construct its place as the worldwide chief in automotive distribution because of the mix of our individuals, who carry industry-leading experience, our diversified geographic footprint and our digital and information capabilities.

“We’re uniquely positioned to ship excellent efficiency for our OEM companions and drive consolidation in a extremely fragmented market, supporting sustainable progress and worth for our stakeholders. In consequence, we stay assured in our medium-term outlook.”