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Lookers ahead of profit target

Lookers has reported its 2006 financial year performance is ahead of the profit before tax forecast of £25.1 million it made in April 2006.

The group also said the 10 dealerships acquired from HR Owen on August 31 have been successfully integrated into its operating model and are performing in line with its plans.

In a statement to the London Stock Market, Lookers said its FPS parts distribution facility in Sheffield had been completed on time and within budget and is now fully operational.

The group will be announcing its preliminary results for the year to December 31, 2006 on March 12.

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