Strong performance in motor division drives revenue rise at Lookers

UK new and used car dealer Lookers has reported a rise in its revenue to 2.1bn pounds in the year ended December 31st from 1.9bn pounds a year earlier.

Adjusted profit before tax increased to £36.8m from £33.8m while profit before tax rose to £35.3m from £31.4m and earnings per share increased 7.0% to 7.0p.

Operational cash flow improved to £66.1m from £58m a year earlier and the group proposed a final dividend of 1.55p per share while the total dividend per share was up 8.0% at 2.35p. This compared to 2.18p in 2011.

Lookers Chief Executive Peter Jones said: "We are pleased to have delivered another strong trading performance in 2012 and we have now had four successive years of increased profits."

He added: "These results give us further confidence that we can continue to grow the business in 2013, despite the fact that short term market conditions remain challenging. As economic conditions improve over the medium term, Lookers is well placed to take advantage of future growth in the new and used car markets and increased demand for aftersales and parts."

Lookers' share price was up 2.65% to 87p at 13:44 on Wednesday.

MF