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Lookers profits fall short of estimates amid challenging UK market conditions

By BFN News | 09:03 AM | Wednesday 14 August, 2019


Car retailer Lookers missed its expectations as half-yearly profits fell by more than expected amid an ongoing backdrop of challenging UK market conditions. For the six months ended 30 June 2019, underlying pre-tax profits fell 27.5% to £29.2m, while revenue increased 2.7% to £2.65bn. That was below the company's expectations for underlying profit before tax to fall to £32m in the first half of the year. New car unit like-for-like sales fell 1.2% versus the UK market decline of 3.4%. while aftersales saw like-for-like revenue growth of 6.2%. The interim dividend was maintained at 1.48p. 'The board's current outlook for the full year at the underlying profit before tax level remains unchanged,' the company said. At 9:03am: (LON:LOOK) Lookers PLC share price was +0.6p at 43.25p Story provided by StockMarketWire.com

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