Lookers group announces seventh successive year of profit growth

Time 2:53 pm, March 10, 2016

LOOKERS, one the UK’s leading motor retail and aftersales service groups, has announced its annual results for 2015.

In a year in which it made the major acquisition of the Benfield Motor Group, Lookers recorded its seventh successive year of profit growth, with revenue, operating profit and profit before tax all up on the previous year.

Results were good across the board, with record performance from the parts and motor divisions down to growth in new and used car volumes and margins, and good progress from the market-leading independent aftermarket parts division.

Revenue across the group increased 20 per cent to £3.65 billion, from £3.04 billion in 2014, with operating profit up 12 per cent to £85.9 million. Adjusted profit before tax increased 11 per cent to £72.1 million, from £65 million in 2014.

Andy Bruce, Chief Executive of Lookers, said: ‘We have delivered another strong trading performance in 2015, our seventh consecutive year of increased profits, which provides further evidence that our business model is both resilient and expansive through the cycle. Our motor division and our parts divisions also produced excellent results, showing the diversity and strength of our operations.

‘Our strategy is to: have the right brands, the right locations and excellent execution. By implementing this, we are ideally placed to take advantage of growth prospects across all areas of the business as well as consolidation opportunities in the sector, not least because businesses of scale will be the winners in our sector. This gives us confidence that we will deliver another improved performance in 2016.’

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