AM Online

Strong 2010 trading for Lookers leaves it poised for more expansion

Lookers says it is poised for growth in 2011 despite any impact of prevailing economic conditions on consumer confidence.

The AM100 dealer group this morning reported that its results for 2010 look set to exceed management expectations.

It will publish the full year results on March 9.

Following a strong trading performance in the first nine months of the year, its fourth quarter trading continued to be in excess of both budget and the prior year.

Its motor division, which includes its franchised dealerships and used car supermarkets, achieved like for like sales up 3.8% on 2009.

Sales of used cars were strong in the second half of 2010, leading full year volumes to recover to 2009 levels, said Lookers.

Its parts division, which includes its independent parts distribution companies, has improved in profitability.

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