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Interim Results

Lookers revenues and profits up

12 August 2015 07:31

Car dealer Lookers reports a strong first half with revenue increasing by 9% to £1.75bn and adjusted profit before tax up 7% at £43.1m.

Profit before tax increased to £39.9m (2014: £37.7m) and earnings per share rose to 8.08p (2014: 7.59p),

Net debt was reduced to £38.2m from £51.9m at 1 January and the interim dividend is up 10% at 1.07p per share.

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."

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