Outlook: Industry dynamics improving
Lookers has delivered again. Profits are well ahead of expectations, prompting a further rise in market estimates. While the share price has performed impressively over the past two years, it is fully justified by the strong trading performance and positive industry dynamics. We find it difficult to understand why the rating is below that of the other quoted motor dealership groups.Lookers is a motor retail and aftersales groups in the U.K. Co. is engaged in the sale, hire and maintenance of motor vehicles and motorcycles, including the sale of tyres, oil, parts and accessories. Co. sells new and used cars and light commercial vehicles. Co.'s operations are across the U.K. and Ireland. Co. has one division, motor division. As of Dec 31 2016, the motor division consisted of 160 franchised dealerships representing 33 marques from 102 locations. The business is engaged in the sale of new and used cars, vans and aftersales activities. Aftersales represents the servicing, repair and sale of franchised parts to customers' vehicles.
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