9th Mar 2016 07:56
LONDON (Alliance News) - Car dealer and mechanic Lookers PLC on Wednesday said pretax profit and revenue grew in 2015 following a strong year in its new and used car franchises.
The FTSE 250-listed company said pretax profit rose to GBP62.8 million from GBP59.2 million, as revenue grew to GBP3.65 billion from GBP3.04 billion.
The group said its motor and parts divisions both performed very well over the year, with adjusted operating profit rising 11% thanks to good growth in new and used car volumes and margins, plus revenue and margin improvements in its aftersales business.
Lookers also saw strong trading for its aftermarket parts arm, where pretax profit increased 3.1%.
The group will pay a final dividend of 2.05 pence per share, taking its total dividend to 3.12p, a 10% rise from the 2.84p 2014 payout.
"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," said Andy Bruce, Lookers' chief executive.
"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," he added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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