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Lookers Reports Seventh Year of Profit Growth

Lookers has delivered another year of growth with adjusted profit before tax increasing 11 per cent to reach £72.1m.

The popular motor group,with dealerships around the UK and Ireland, reported revenues for the year to December 31, 2015 of £3.65bn, up 20 per cent on the previous year as the business announced its seventh consecutive year of profit growth.

Lookers saw record performance from its motor and parts divisions with good contribution from acquisitions and successful integration of the Benfield business, which it acquired in September 2015. Its entry, for the first time, to the FTSE 250, was also a highlight for the year.

Andy Bruce, chief executive of Lookers, said: “We have delivered another strong trading performance in 2015, our seventh consecutive year of increased profits, which provides further evidence that our business model is both resilient and expansive through the cycle.

"Our motor division and our parts divisions also produced excellent results, showing the diversity and strength of our operations.

“Our strategy is to: have the right brands, the right locations and excellent execution. By implementing this, we are ideally placed to take advantage of growth prospects across all areas of the business as well as consolidation opportunities in the sector, not least because businesses of scale will be the winners in our sector.

"This gives us confidence that we will deliver another improved performance in 2016.”

Profit before tax increased by 6% to £62.8 million and the Manchester-headquartered group has proposed a final dividend of 2.05p per share - total dividend per share up 10 per cent at 3.12p.

For further financial information please visit the Lookers Investors Page