Lookers in fast lane with record performance

MANCHESTER-based motor trader Lookers has enjoyed another record first-half of its trading year and a seventh successive period of improved profitability.

Turnover increased to £1.75bn (2014: £1.6bn), an increase of 9% and adjusted profit before tax increased 7% from £40.2m in 2014 to 43.1m in the six months ended June 30.

With pre-tax profits going up 6% to (39.9m (2014: 37.7m),  earnings per share increased to 8.08p (2014: 7.59p) – up 6%.

Chief executive Andy Bruce said:  ““We have delivered a strong trading performance in the first half of the year which is another record result and the seventh successive year of improved profitability.

“Both the motor and parts divisions have produced excellent results with improved cash flow for the period, further strengthening our balance sheet.
 
“We are well placed to take advantage of growth prospects across all areas of the business as well as consolidation opportunities in the sector.
 
“This gives us confidence that we can continue to grow and deliver improved results for the full year.”