DEALER group Lookers has announced it has high expectations its full year results will beat forecasts.
Lookers’ end of year trading update revealed that the first nine months and the final quarter of 2010 were strong for the group – reports The Liverpool Daily Post.
Looker said: ‘We are pleased to report that trading during the quarter ended December 31 has continued to be in excess of both budget and the prior year. Consequently, we expect group results for the full year to exceed management expectations.’
New car sales was the big winner for the group; a gain of 3.8 per cent in like-for-like sales was made despite the market declining by 5.8 per cent.
The group’s independent parts division, aftersales and used car sales all performed strongly in 2010 – with the latter meaning the firm’s total sales recovered to 2009 levels.
Despite difficult economic conditions in 2011, Lookers is still confident of the year ahead: ‘The aftersales bias to the motor division and the group’s strong performance during the past two years demonstrate the strength of the business and leave us well positioned for future growth.’
During 2010 the group closed seven under-performing dealerships, but Lookers revealed that 2011 will see the firm expanding its portfolio with ‘targeted acquisitions’.