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Car Dealer News 1 JulLookers eyes future with confidence after publishing 2020 financial results
Lookers has said that it can now “look to the future with confidence” after emerging from the most challenging period in its history.
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Car Dealer News 30 JunPendragon forecasts £45m to £50m 2021 profit in pre-close update
Pendragon has followed criticism over its lack of trading statements with a pre-close update forecasting full-year 2021 underlying profit before tax of £45 million to £50m.
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Car Dealer News 28 JunLookers delays 2020 financial results publication to FCA's June 30 deadline
Lookers will report its 2020 annual financial results on the Financial Conduct Authority’s (FCA) June 30 reporting deadline after announcing a "short delay" in publication.
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Car Dealer News 24 JunTimeframe settled for Cambria CEO Mark Lavery’s proposed £80m MBO
Cambria Automobiles could be trading as a private company by July 29 after a timeframe for the proposed management buy-out by chief executive Mark Lavery was decided this week.
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Car Dealer News 23 Jun‘Exceptional used car market’ drives Vertu Motors profit upgrade
Vertu Motors PLC has upgraded its pre-tax profit forecast for 2020 to £28 to £30 million – above current market expectations.
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Car Dealer News 18 Jun
Vertu follows Lookers in urging shareholders to stay away from AGM
Vertu Motors has followed fellow AM100 car retail PLC Lookers in urging shareholders to stay away from their upcoming AGM after the stalled easing of COVID-19 lockdown measures.
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Car Dealer News 18 JunInchcape performance and profitability continues to ‘exceed expectations’
Inchcape has revealed that its year-to-date financial performance has “exceeded expectations” in a brief trading update issued today (June 18).
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Car Dealer News 10 Jun
Cambria CEO Mark Lavery targets growth after reaching MBO agreement
Cambria Automobiles chief executive Mark Lavery has said that he looks forward to “capitalising on the growth opportunities ahead” after agreeing the terms of the group’s management buy-out (MBO).
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Car Dealer News 25 May
Lookers' ‘strong trading momentum’ prompts improved profit forecast
Lookers will return to “normalised reporting” of its annual financial results after renewing its banking facility and reporting continued strong trading momentum the first four months of 2021.
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Car Dealer News 19 MayPendragon CEO’s ‘out of tune’ bonus payments approved despite AGM revolt
Pendragon chief executive Bill Berman will receive bonus payments criticised as being “out of tune” despite a 42.2% vote against the PLC’s director remuneration at today’s AGM.
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Car Dealer News 17 MayCambria Automobiles CEO Mark Lavery given more time to complete MBO
The board of directors at Cambria Automobiles has confirmed that chief executive Mark Lavery has been given more time to negotiate a management buy-out (MBO) of the AM100 car retail PLC.
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Car Dealer News 12 MayVertu Motors to grow scale and ‘big brand’ marketing profile in 2021
Vertu Motors chief executive Robert Forrester has said the AM100 PLC will continue to drive a “big brand” profile through high-profile marketing after adding 30 car retail outlets in 15 months.
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Car Dealer News 29 Apr
UK car retail shows ‘relative resilience’ as distribution drives growth for Inchcape
Inchcape’s UK car dealership operation showed “relative resilience” in a COVID-impacted ‘Lockdown 3’ as the PLC’s distribution business offset revenue losses from retail, the PLC has reported.
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Car Dealer News 19 AprCambria Automotive PLC takeover team granted more time to complete MBO
The Cambria Automobiles board has granted its management team more time to complete its proposed management buy-out of the AM100 PLC.
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Car Dealer News 8 Apr
Lookers sells 44,000 cars in 'Lockdown 3' to finish Q1 ‘ahead of expectations’
Lookers sold over 44,000 new and used cars during a COVID-19 ‘Lockdown 3’ impacted Q1 to finish the period “ahead of expectations”.
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Car Dealer News 31 MarPendragon concludes £106m US car dealership sales with JLR Santa Monica disposal
Pendragon has completed the process of selling off its US-based Hornburg car retail division with the sales of its Jaguar Land Rover (JLR) dealership in Santa Monica, California.
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Car Dealer News 22 Mar
Cambria Automobiles CEO leads MBO bid for AM100 car retail PLC
Cambria Automobiles chief executive Mark Lavery, finance director James Mullins and managing director Tim Duckers are exploring the possibility of a management buy-out of the AM100 PLC.
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Car Dealer News 18 Mar
Lookers PLC to defy analysts with ‘small profit’ in 2020 financial results
Lookers has said that it expects to deliver a “small profit” and reduced debt in its 2020 annual financial results – defying analysts’ loss predictions.
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Supplier News 12 Mar
UK's accounting watchdog opens investigation into Deloitte’s Lookers audit
UK accounting watchdog the Financial Reporting Council (FRC) has opened an investigation into Deloitte audit of Lookers PLC’s financial statements for 2017 and 2018.
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Car Dealer News 2 Mar
Lookers avoids sanctions as FCA closes investigation into ‘possible mis-selling’
The FCA has told Lookers does not intend to apply any sanction against the car retail group following the decision to close its investigation into the ‘possible mis-selling’ of regulated products.
