Lookers to exceed forecasts

11th May 2010 13:49

Car dealer Lookers' trading performance for the four months ended 30 April ahead of budget and prior year and the group is continuing to produce record results. Consequently, group results for the half year to 30 June 2010 are expected to exceed management expectations. The Parts Division has delivered further improvements in profitability and is trading ahead of management expectations and last year. In the Motor Division, new car sales increased by 23% compared to the same period last year and are in line with the UK market. However, we have increased retail and corporate market share, if sales are adjusted for the scrappage scheme and new car margins have also improved over the level achieved in the first four months of 2009.