Record Profits Again For Lookers
Edison | Mar 15, 2016 08:03AM ET
Lookers (LON:LOOK) has an enviable record; despite new car registrations showing little change over the 12 years since 2003, the group has delivered consistent growth, increasing EPS by 188% from 5.17p in 2003 to 14.88p in 2015. Investment has continued, lifting the future profits potential. We believe that the group’s impressive record still has some considerable way to go.
Seventh successive year
Lookers has delivered its seventh successive year of record pre-tax profits. While trading conditions remained relatively benign, the group delivered underlying pre-tax profits of £72.1m, 11% ahead of the £65.0m of the previous year and slightly ahead of our £71.0m estimate. The group defied increasing margin pressures and sustained its positive investment programme in its online presence and improved the facilities across its franchise network. The group also completed and integrated the £87.5m acquisition of the Benfield Motor Group, the largest deal in its history.
To read the entire report Please click on the pdf File Below
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.