Lookers profits motor ahead on higher car sales

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Car dealer Lookers today unveiled record half-year profits as it benefited from the ongoing strength of the UK car market.

The firm, which has 127 franchised dealerships representing 31 marques, posted a pre-tax profit of £37.7 million for the six months to the end of June, a surge of 38 per cent on the same period last year.

Revenues jumped 29 per cent £1.6 billion amid an “excellent” performance at the group’s motors and parts divisions.

Chief executive Andy Bruce said: “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.”

The interim dividend, to be paid on 28 November, was lifted 10 per cent to 0.97p a share.