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Trading statements

Lookers sees continued improvement

17 May 2016 07:32

Motor retailer and aftersales service group Lookers reports a strong performance in the quarter to the end of March with continued improvements in all areas of the business.

The company produced a positive trading performance in the quarter, ahead of the prior year, with a strong result during the important month of March. An update says: "Our motor division delivered another good performance in the three months to 31 March, with total gross profit from new cars increasing by 23%, or 5% on a like for like basis. Margins for both new retail and fleet cars were maintained at a similar level to the prior year.

"Gross profit from used cars increased during the period and margins also improved, resulting in an increase in gross profit of 23% compared to the prior year or 7% on a like for like basis. Our used car volumes continue to increase in part due to higher volumes of leads generated by the group's website, which have increased further compared to last year. The website has recently been significantly upgraded and will benefit from further major developments later this year."

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