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Inchcape suspends share buyback, 2020 outlook on coronavirus uncertainty

Reuters
Updated

(Reuters) - UK's Inchcape <INCH.L> on Friday suspended its 150 million pound share buyback programme launched last month, citing the uncertainty around the coronavirus pandemic.

The car dealer and distributor also decided to put on hold its 2020 outlook announced in February, when it had warned of a small drop in fiscal earnings owing to weakness in multiple markets following the outbreak.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Aditya Soni)