Lookers expects better results

7th Jul 2010 08:32

Car dealer Lookers said result for the half year is expected to exceed management's expectations. The group said all divisions are currently performing ahead of plan, with the independent Parts Division continuing to deliver record results. The Motor Division has continued to deliver trading results ahead of budget and the prior year and benefited from new vehicle volume sales growth in excess of the 20% market increase. Although used car sales and aftersales were affected for a short period in January by the adverse weather, trading continues to be at encouraging levels, it said."We believe the Group will deliver record results for the first half of the year, giving us confidence that we can continue to grow the business and deliver successful results for the full year, despite the economic challenges facing the UK retail sector," said chief executive Peter Jones.