Lookers bullish on 2011 outlook

LOOKERS yesterday reported a better-then-expected full-year profit, driven by a strong performance from its motor and car parts businesses and a reduction in costs, and the British car dealer said it was well-placed for further growth.

The 124-outlet firm, which sells cars from manufacturers including Ford, Vauxhall, Nissan and Toyota, said January to December adjusted pre-tax profit was £33.6m, compared with £28.3m a year ago. Revenue climbed 7.7 per cent to £1.9bn. It said it would also pay a final dividend of 1.2p a share.