Revenue and profits both up as Lookers delivers ‘excellent’ results

Time 9:33 am, August 16, 2017

LOOKERS plc has announced an ‘excellent’ set of interim results for the period ended June 30.

The company reported strong growth across all areas of the business. Revenue increased by five per cent to £2.46 billion and profit before tax increased 18 per cent to £50.2 million.

This sustained delivery of record profits also led to an increase in the interim dividend of 10 per cent to 1.41p per share, as the company continued to deliver sustainable value to shareholders.

Lookers says its performance is driven by

• A positive increase in new car revenue and gross profit;

• Significant growth in used car revenue and gross profit;

• And a substantial increase in revenue and gross profit for aftersales.

The strategically important acquisitions of Knights BMW and Mini dealerships as well as the Drayton Mercedes-Benz dealerships have been successfully integrated and are making a positive contribution.

This has been coupled with the continued investment in the customer experience and a strengthened portfolio of franchise representation.

And finally, the company says that a healthy order book for the delivery of new cars in September positions the business well to continue its strong performance.

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Dave Brown's avatar

Dave, production editor on Car Dealer Magazine, is a journalist with more than 30 years' experience in the worlds of newspapers, magazines and public relations.

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