AM Online

Lookers boss boosts shareholding

Lookers chief operating officer Andy Bruce has bought a total of 135,000 ordinary shares in Lookers at a price of 105p each following the group’s Q1 results.

The combined £141,750 purchase pushed his stake to 0.13%, equal to 502,086 shares.

New car retail sales increased by 13%, which was 2% ahead of the market. Fleet volumes reduced by 7%; the reduction in volume being primarily due to low margin fleet business in 2012, which was not repeated this year.

New retail car margins increased, compared to the prior year, and fleet margins also improved, more than offsetting the margin lost from the reduction in fleet volume.

Used car volumes for the three months continued the upward trend of last year with an increase of 17% over the prior year with stable margins.

  • Separately, HR Owen chairman Jon Walden has bought 100,000 shares in his company at 114p per share, taking his interest up to 134,000 HR Owen shares, a 0.57% stakeholding.

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