Pre-Close Trading Statement

RNS Number : 9491X

Lookers PLC

01 July 2008

 



1 July 2008

Lookers plc

Pre-Close Trading Statement

The Board of Lookers, one of the UK's leading motor retail groups, issues the following trading update in advance of its interim results for the half year ended 30 June 2008.

As has been widely reported, since March the national trading environment for new and used cars has become more challenging with our franchise network division being impacted by industry declines in like for like sales against the prior year. The disappointing market trends in Northern Ireland have continued in May and June.  

Nevertheless, our used car supermarket businesses have returned to profit and we are also enjoying the benefits of the acquisition of the Dutton Forshaw franchises. In addition, our independent aftermarket parts division has maintained its strong start to the year despite the impact of increasing fuel prices on distribution costs.  

Our diversified business model and solid financial structure give us the flexibility to adapt to the current uncertainties within the UK and global economies. As always, we continue to review the return generated by each business unit, particularly in light of the current tougher market conditions, and to take the necessary remedial action. 

For further information:

Lookers plc	Hudson Sandler
Ken Surgenor, Chief Executive	Nick Lyon
David Dyson, Finance Director	Kate Hough
Tel: [phone]	Tel: [phone]

 

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