Lookers good performance maintained

19th May 2009 14:52

Car dealer Lookers said its encouraging performance has been maintained in recent weeks as it continues to trade ahead of budget and to be highly cash generative. The group also said it is in advanced talks with its finance providers to ensure that its financing arrangements remain appropriate for the current market conditions. "Recognising that the new arrangements are likely to be significantly more expensive, as previously announced the Board is therefore also considering alternative sources of capital in order to minimise the additional cost of bank borrowings," it said. Lookers also announced the appointment of Robin Gregson as group finance director with immediate effect, following the departure of David Dyson, who left the company for personal reasons.