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Lookers interim results: pre-tax profit up 34%

Lookers plc, the top ten UK retail motor group, has announced record results for the half-year ended June 30 2003. Highlights include:

- Turnover up 28% to £516.1 million (2002: £402.7 million) - Operating profit pre goodwill up 28% to £11.6 million (2002: £9.0 million) - Profit before interest and tax up 36% to £12.7 million (2002:£9.3 million) - Profit before tax up 34% to £10.3 million (2002: £7.7 million) - Basic earnings per share up 52% to 21.6p (2002: 14.2p) - Dividend up 10% to 3.3p - Operating cash flow up 76% to £13.2 million (2002:£7.5 million) - Equity shareholders funds increased by 13% against June 2002.

Fred Maguire, Lookers' Chairman, said: "Lookers has once again delivered outstanding results for the first half of the year, exceeding the record levels achieved in the same period last year.

"Since the period end trading in July and August is well ahead of last year and the order bank for September would indicate that this positive trend will continue.

"In addition to the many organic initiatives in place throughout the Group, we are actively reviewing further acquisitions".

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