30th Oct 2015 07:38
LONDON (Alliance News) - Motor retailer and aftersales services provider Lookers PLC on Friday said it saw a strong performance in the third quarter across its whole business and said its results should be in line with market expectations.
The FTSE 250-listed company said its trading performance in the quarter to the end of September was very strong, with a record monthly result for the business in September despite coming against a strong comparable period the year before.
For the nine months to the end of September, its motor division has performed well, with total gross profit from new cars rising 7.0% and with margins on new retail and fleet cars broadly flat year-on-year.
Gross profit from Lookers' used car business rose 7.0% in the first nine months, with margins also maintained at robust levels. Aftersales revenue rose 8.0% in the period, Lookers said, benefiting from an increase in vehicles on its books under three years old and delivering an improved gross margin.
Lookers said it remains confident of making further progress in the remainder of 2015 and anticipates its results for the full year will be in line with market expectations.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
LOOK.L