Lookers - Looking to the future
Along with its peers, in H118 Lookers continued to be challenged by market conditions, which returned to a more normal sequential development but meant that Q1 profitability was lower than in the prior year. With new and used car markets now appearing to have stabilised, management appears confident that the impact of the new vehicle testing regime is likely to be neutral across H218. With a continued focus on operating cost control, H2 profitability should recover strongly to provide a more normal H1:H2 seasonal split than was seen in 2017. As a result, we maintain our PBT and EPS forecasts.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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