National motor retailer Lookers achieved a 13% year-on-year increase in operating profit in the first half of 2017, according to its results.
Lookers operates a network of 153 franchised dealerships across the UK and Ireland which represent 32 manufacturer brands, selling both new and used cars, and aftersales.
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The group recorded an increase in operating profit from continuing operations of 13% year-on-year in the first six months of 2017 to reach £58.1m.
Revenues across all of its sales sectors increased by 5% year-on-year to £2.46bn in the first half of the year. Andy Bruce, chief executive of Lookers, said the business was “well-positioned.”
Bruce said: “We have made good progress with our strategy of having the right brands in the right locations with excellent execution and have managed our portfolio of dealerships to reflect that.
“Our order book for new cars for the important month of September is continuing to build in line with our expectations and the new car market for this year is still forecast to be at a historically high level. We therefore believe that the company is well positioned to continue its strong performance and deliver sustainable value to shareholders.”
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