Lookers in the red after £504m take-private deal Business Car dealership giant Lookers slumped into the red in the year it was taken private in a deal worth more than £500m. The Cheshire-headquartered business has reported a pre-tax loss of £5m for 2023, having posted a pre-tax profit of £73.9m in 2022. The loss comes as newly-filed accounts with Companies House show Lookers’ revenue [...]
Lookers take-private deal back on the table after fresh £504m swoop Lookers Car seller Lookers looks set to become the latest firm to be plucked from London’s markets after its board announced a fresh £504m take-private deal after a previous offer collapsed last week.
Lookers begins £15m buyback programme as it raises year profit SHARE BUYBACK Lookers has begun a £15m share buyback programme as it raises profit forecasts for the full-year. The car dealership chain announced today that, encouraged by strong trading in the third quarter, it now expects profit before tax for 2022 to be ahead of previous expectations to no less than £75m. “We have built on the [...]
Used car dealer Lookers sees profits drop 10.5 per cent after record 2021 June 29, 2022 Second-hand car seller Lookers said it has maintained “strong momentum” in the first half of 2022, after its pre-tax profits dropped 10.5 per cent compared to the record performance last year. The Greater Manchester car dealership posted pre-tax profits of £45m for the first half of 2022, compared to “record” pre-tax profits of £50.3m [...]
Tech titan Deborah Sherry joins Lookers’ board as car dealership plots expansion April 6, 2022 UK motor retail group Lookers has appointed Deborah Sherry to the Board of Lookers as a Non-Executive Director.
Car dealership Lookers sells Battersea site for £28m March 28, 2022 Car dealership chain Lookers has sold a freehold dealership property in Battersea, south London for £28m. The 95,000 sq ft property was sold with Urban Logistics REIT, with a 20-year lease agreed at an initial rent of £1.25m per year. Lookers CEO Mark Raban said: “We’re pleased to have agreed the selective sale and leaseback [...]
Lookers posts record first half profit after ‘exceptionally strong’ trading September 9, 2021 Used car dealership Lookers said that it would look to reinstate dividend payouts “as soon as possible” after an “exceptionally strong” performance in the first half of the year. The London-listed firm said it had swung back into the black after last year’s £36m first half loss, posting a record £50.3m profit. It added that [...]
Lookers shares drive higher as car dealer upgrades profit guidance July 29, 2021 Shares in car dealership chain Lookers jumped eight per cent this morning after the company told investors it was expecting a higher full year profit. Lookers said in a first half trading update that underlying profit before tax in six months to 30 June is now expected to be approximately £50m, compared to a £36.1m [...]
Car dealer Lookers sees sales soar following April reopening May 25, 2021 Car dealership Lookers this morning said sales had soared since the reopening of non-essential retail last month. The firm said that trading across the group has been strong since 12 April, benefitting from increased consumer demand and cost reduction initiatives. Sales for new retail units in the four months to 30 April shot up 33 [...]
Lookers set to beat profit forecasts after ‘resilient’ lockdown performance April 8, 2021 Car dealership Lookers today said that full year profit would come in “materially ahead” of the £22.6m predicted by analysts after a better than expected performance in the first quarter. The announcement sent shares into overdrive this morning, with the company’s stock up 13.3 per cent as markets opened. The FTSE 250 firm, which has [...]