Inchcape increases guidance

Car dealership Inchcape said yesterday its full-year profits are set to speed ahead of expectations, helped by the “cash-for-bangers” scheme. The firm said annual profits would be "significantly ahead" of previous expectations although it warned that underlying demand was still weak. Excluding the scrappage scheme, new car registrations between July and September were down 15.1 per cent on last year and 28.6 per cent on 2007.