Outlook: Potential undervalued
While Lookers shares have risen by 12% over the past year, we feel the current rating still fails to recognise the future potential. Interim results prompted a rise in market estimates, which given the order book, could well be extended following the group’s autumn IMS. Standing at a c 28% discount to the FTSE All-Share retailers index, we feel that the market fails to recognise the industry dynamics being exploited by management.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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