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Lookers upgrades profit outlook as momentum continues
StockMarketWire.com
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Motor retail and aftersales service group Lookers upgraded its outlook on annual profit as momentum seen in the first quarter of the year continued.
Underlying pre-tax profit was expected to 'comfortably exceed current market consensus p[of £34 million],' the company said.
For the four months to 30 April 2021, like-for-like registrations of new retail units were 32.6% and new fleet units were 20.5%.
While used units were 26.6% and after sales revenue increased 25.4%
The company said it had also seen improved gross margins and the ongoing benefit of its cost reduction initiatives.
Story provided by StockMarketWire.com
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