Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Car retailer Lookers missed its expectations as half-yearly profits fell by more than expected amid an ongoing backdrop of challenging UK market conditions.
For the six months ended 30 June 2019, underlying pre-tax profits fell 27.5% to £29.2m, while revenue increased 2.7% to £2.65bn.
That was below the company's expectations for underlying profit before tax to fall to £32m in the first half of the year.
New car unit like-for-like sales fell 1.2% versus the UK market decline of 3.4%. while aftersales saw like-for-like revenue growth of 6.2%.
The interim dividend was maintained at 1.48p.
'The board's current outlook for the full year at the underlying profit before tax level remains unchanged,' the company said.
At 9:03am: (LON:LOOK) Lookers PLC share price was +0.6p at 43.25p