Fleet News

Return of car-buyers leads to Lookers profit leap

PRE-TAX profits at car dealership group Lookers leapt more than £1 million as buyers returned to the new car market in the first half of the year. Pre-tax profits for the year to June 30 were up to £6.5 million from £5 million, on turnover of £374.4 million, up from £297.8 million.

Chairman Fred Maguire said the new plate change and renewed confidence in the car market had significantly helped the improved results. He said that the review of Block Exemption, the selective and exclusive distribution system for manufacturers, could produce more sales opportunities for the company by consolidating its position with manufacturer partners.

He added: 'The group has a clear strategy and talented management team to exploit these opportunities and the more stable trading environment.'

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