08/03/17

Lookers Reports Eighth Consecutive Year of Growth

Lookers has delivered another year of growth with adjusted profit before tax increasing 7 per cent to reach £77.1m.

The popular motor group,with dealerships around the UK and Ireland, reported revenues for the year to December 31, 2016 of £4.3bn, up 17 per cent on the previous year as the business announced its eighth consecutive year of profit growth.

Lookers reported that the growth in the new car market in recent years had helped to underpin continued demand. They also remarked that in overall terms this has been a good start to the financial year with a healthy order book for the delivery of new cars in March 2017.

Andy Bruce, chief executive of Lookers, said: "I am pleased to announce an excellent set of year end results. Our profit is at record levels and has increased for the eighth consecutive year - evidence of both an expansive and resilient business model. We know our strategy of having the right brands in the right locations and excellent execution is the right one - and during the year we've managed our portfolio of dealerships to reflect that."

Profit before tax increased by 46% to £91.8 million and the Manchester-headquartered group has proposed a final dividend of 2.36p per share - total dividend per share up 17 per cent at 3.64p.

For further financial information please visit the Lookers Investors Page
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