Lookers plc has announced its results for the six months ended 30 June 2014. The group’s revenues are up 29% on the same period in 2013.
The Lookers announcement details growth in new and used car volumes and margins. The aftersales side of the business has also grown in terms of revenue and margins. Overall revenue increased to £1.6 billion, compared with a figure of £1.24 billion for the same period in 2013. The revenue growth realised an adjusted profit before tax increased of £40.2 million. This marks an increase of 36% on 2013’s figure of £29.6 million.
Andy Bruce, Chief Executive, said: “We have delivered a strong trading performance in the first half of the year which is another record result and represents six successive years of profit improvement. Both the motor and parts divisions have produced excellent results. Operational cash flow for the period was particularly positive, strengthening the balance sheet further. Lookers is well placed to take advantage of further growth opportunities in the new and used car markets and increased demand for aftersales and parts. This gives us confidence that we can continue to grow the business and deliver improved results for the full year.”
Lookers PLC operate dealerships branded Taggarts, Lomond Audi, and Charles Hurst Group. The company has over 4,500 employees at 70 locations.
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