200922 Motor dealer. MARK RABAN Ceo Lookers
At Mercedes Gatwick.
Lookers is ready to ship full yr underlying pre-tax income of £75m in comparison with £90.1m final time.
In a Q3 buying and selling replace it outperformed the whole new automobile market by 5.6% and within the September plate change its new retail unit gross sales have been up 11.5% towards the UK new retail automobile market which grew by 4.6%.
On a like-for-like foundation used unit gross sales have been down -7.1% in Q3 and aftersales revenues have been forward of final yr on a like-for-like foundation. The group has began a share buyback programme of as much as £15m.
Trying forward Looker stated: “The board is inspired by the power of buying and selling in Q3 and the early begin to This autumn, and we proceed to keep up a powerful new automobile order financial institution, which is above historic normalised ranges.
“Though we’re happy with the latest constructive buying and selling efficiency, the supply of recent automobiles continues to be an element limiting our development.
“We’re additionally cautious on how client spending could be affected throughout the the rest of this monetary yr, with inflation, greater rates of interest and wider financial uncertainty,” stated CEO Mark Raban.
“However these elements, given the power of efficiency within the Interval, the Board now expects underlying revenue earlier than tax for 2022 to be forward of its earlier expectations and to report a minimum of £75m.”
