Fleet News

Lookers profits hit record after a 'challenging' year

A 'CHALLENGING' year for dealership group Lookers ended with pre-tax profits up from £8.1 million to a record £9 million. Turnover was up from £513.4 million to £618.4 million for the year to September 30, 1997.

Lookers Group, which during the year disposed of non-core activities, including its 49% holding in leasing company Lookers Planned Motoring, reaped the benefit of a buoyant car market with its own new car sales up 12.7% and used car sales up 6.7% as a result of the introduction of the 'Lookers Motor Market used car retailing concept'.

The company said that apart from a first full year contribution from Charles Hurst in Northern Ireland there was a good contribution from Vauxhall dealerships and strong performances by Volkswagen, Audi, Land Rover and Mercedes-Benz franchises.

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