Robust third quarter at Lookers

New and used car dealer Lookers posted record third quarter results as it increased new retail and used car volumes at improved margins.

The group reported a strong performance from July 1st to October 29th 2012, despite the challenging conditions in the motor retail market and expects full year results to be in line with management expectations.

The UK new car market increased by 4% in the nine months to September 30th while used car volumes for the period increased by 12% compared to last year.

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"Whilst economic conditions continue to affect consumer confidence, restricting recovery in the new and used retail sectors, we continue to improve the operational and financial performance of the group," Lookers said in a statement.

"The aftersales bias to the business and our strong performance over the last three years, demonstrates the ability of the group to perform well in a challenging market."

CJ