Car dealership reports slump in half year pre-tax profits

Motor dealership Lookers' profit warning last month was proved correct today as its half-year pre-tax profits fell by almost 40%. The Altrincham-based group, which operates 165 franchised dealerships representing 31 manufacturers from 110 locations, issued a profit warning early last month, blaming uncertain market conditions and a decline in the new car market. Publishing its interim results today, the group revealed it had made a 2.7% improvement in sales for the six months to June 30, with turnover rising from £2.576bn to £... You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...