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Lookers performance 'in line with expectations'

The Lookers board has said that its franchise dealers have seen a good start to 2007 and is performing in line with the company’s expectations.

At the Lookers’ AGM today, Phil White, Lookers chairman, said: “Lookers continues to make strong progress. Through our proven strategy, we remain dedicated to expanding out complementary business streams through both organic growth and strategic acquisitions,” said Phil White, Lookers chairman.

White said Lookers’ management structure and close manufacturer relationships has allowed it to deliver ‘superior returns’ across its franchises.

“We continue to see the benefits from our largely completed refurbishment programme across a number of our outlets.

“The acquisitions made last year from HR Owen have been fully integrated, expanding our presence in the south of England, strengthening our mix of volume and prestige brands and are performing in line with expectations,” added White.

To close his statement White added that 2007 had started well against strong comparatives for the first quarter of last year and is line with the Lookers board’s expectations.

Lookers will announce its full interim results on September 3.

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