Acquisitions and Consolidation: The Inchcape Group, 1958–84
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The newly-formed Group of Companies, after its successful launch in the autumn of 1958 as Inchcape & Co. Limited emerged from its first year of trading with justified confidence in the future. The Group’s market capitalisation on 3 November 1958 was £2.565m, with a mid-market price of 28s 6d[142½p] for its 1.8m issued £1 Ordinary shares. By the accounting date of 31 March 1960, although no further shares had yet been issued, the Group’s market capitalisation exceeded £4m, based on the mid-market price that day of 44s 6d(222½p], In that short time the profit available for distribution to ordinary shareholders had increased from £280 000 to over £400 000 after tax, with earnings per share of 22.33p equivalent, an increase of 44 per cent over the previous year.
KeywordsShare Price Share Issue Capitalisation Issue Preference Share Eastern Economic Review
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