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• Inchcape Inchcape plc ( " Inchcape " or the " Group " ) , the leading independent global automotive distributor , today releases its Q1 Trading Update covering the period from 1 January to 31 March 2021 . Q1 Trading Update Positive trading momentum Group revenue £ 1.9bn : up 2 % on an organic basis , and down 3 % reported . Continued expansion of our distribution footprint : JLR in Indonesia and Daimler in Guatemala • Sale of retail operations in St. Petersburg ( Russia ) ; expected completion in Q2 Q1 Revenue YoY % % change reported % change constant FX % change organic¹ Group ( 3 ) % ( 1 ) % + 2 % Distribution Retail + 10 % ( 18 ) % + 9 % ( 14 ) % + 4 % ( 2 ) % 1 : Organic growth is defined as sales growth in operations that have been open for at least a year at constant foreign exchange rates Trading Update 29 April 2021 Duncan Tait , Group CEO , commented : " Our first quarter results were ahead of our expectations . The performance demonstrates the underlying resilience of the Group - with revenue growth underpinned by a widespread recovery in our Distribution business . It also reflects our agility as we met the challenges of lockdowns and restrictions worldwide by adapting and improving our operational capabilities . In line with our focus on markets with high growth potential , we continued to expand our distribution footprint with JLR in Indonesia and Daimler in Guatemala . We have also agreed the sale of part of our retail operations in Russia , further streamlining our Retail - only business . Looking ahead , while the pandemic situation presents continued uncertainty , absent any severe disruptions we continue to expect material growth in profits and an improved operating margin for FY21 . Our ambition is to become the undisputed distributor of choice for OEMs . We will achieve this by further strengthening our OEM relationships and with more emphasis on capturing the lifetime value of both customers and vehicles . "