15th Jan 2008 07:00
Lookers PLC15 January 2008 15 January 2008 LOOKERS plc TRADING UPDATE Lookers plc, one of the UK's leading motor retail groups, is pleased to providethe following trading update. Following completion of the financial year ended 31 December 2007, the Board canconfirm that the trading performance of the Company falls within the range ofthe current market expectations. In the motor franchise business the contribution from aftersales continued togrow, and whilst new car volumes were ahead of 2006, margins for both new andused cars came under pressure, particularly in the last quarter of the year. The integration of Dutton Forshaw is well under way and is being implementedaccording to plan. This acquisition has enabled the Group to continue itsexpansion with our preferred manufacture partners, building on our presence inboth the South East and North West of England and providing a foothold in SouthWales. The parts distribution business continues to perform well, benefiting from thenew distribution facility in Sheffield and the acquisition of BTN Turbo ChargerService Limited, which broadens the Group's offering in the parts distributionaftermarket. In line with the current economic climate, new and used vehicle tradingcontinues to be competitive. Whilst we remain cautious of the market generally,we are confident of another year of progress. For further information: Lookers plc Telephone: 0161 291 0043Ken Surgenor, Chief ExecutiveDavid Dyson, Finance Director Hudson Sandler Telephone 020 7796 4133Andrew Hayes / Nick Lyon / Kate Hough This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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