Lookers (LOOK): Restoring reputation as the mar...

Edison Investment Research Limited Edison Investment Research Limited: Lookers (LOOK): Restoring reputation as the market EVolves 30-Jul-2021 / 08:00 GMT/BST London, UK, 30 July 2021 Lookers (LOOK): Restoring reputation as the market EVolves Following a challenging 2019, the COVID-19 pandemic extended the task of restoring stakeholder confidence in Lookers, one of the UK's leading automotive retailers. With the legacy issues now largely dealt with, Lookers can address the challenges and opportunities presented by COVID-19 and the evolution of the UK car market as the adoption of electric vehicles (EVs) accelerates. The strong balance sheet supports continued investment in technology and brands and, with a leading market position, Lookers appears well placed to resume profitable growth from 2022. UK car retailers are trading on a substantial P/E discount to the general retail sector of around 45% and Lookers FY22 P/E of 6.2x based on our estimates is at the low end of its peer group. Assuming it successfully executes its strategy, restores the investment proposition and resumes dividend payments, there is clear potential.   Click here to view the full report or here to sign up to receive research as it is published. All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Andy Chambers [phone] [e-mail] Learn more at www.edisongroup.com and connect with Edison on:  LinkedIn  https://www.linkedin.com/company/edison-group-/ Twitter   www.twitter.com/Edison_Inv_Res YouTube  www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

End of Announcement - EQS News Service

1222829 30-Jul-2021