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Looker's operation profit up by 20 per cent

Lookers' profit from operations is up a fifth from the previous year, according to its preliminary results for year ending 31 December 2007.

Profit from operations was £38.3 million in 2007 compared to £31.7 million in 2006.

Across the group, turnover was up 17 per cent to £1.68 billion from £1.43 billion the previous year.

Basic earnings per ordinary share rose 12 per cent to 9.09p (2006:8.13p), while total dividend increased 15 per cent to 4.02p, against 3.50p in 2006.

New car sales represented only 30 per cent of gross profit, demonstrating Lookers' strategy to broaden its revenue streams.

Ken Surgenor, Lookers' chief executive said: "I am pleased to report a year of steady progress for Lookers in line with market expectations.

"These results are testament to our succsesful strategy of having a diversified business model from which we continue to enjoy broad revenue streams."

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