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Lookers warns of H1 loss, but sees better-than-expected Q3 performance
StockMarketWire.com
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Motor retail and aftersales service group Lookers warned of a first-half loss, though said better-than-expected performance in the third quarter would offset the loss.
The loss in the first half was driven by temporary closure of the group's dealerships throughout the lockdown period.
Third quarter pre-tax profit was 'significantly' ahead of last year, largely offsetting the loss recorded in H1, the company said.
For the three-month period ended 30 September 2020, the company sold over 42,000 new retail and used cars, 13.6% higher than the same period last year.
Like-for-like new vehicle sales were up by 27.1% on last year, while used car sales were up 6.2%.
'This growth was fuelled by the release of pent up demand from over two months of closure and the ongoing trend of private car use instead of public transport,' the company said.
Story provided by StockMarketWire.com
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