Lookers FY22 results were 1.1% ahead of our forecasts at the adj. PBT level showing good underlying growth on the prior year after adjusting for COVID support received in FY21. The Group made decent progress both operationally and strategically and now has a strong and well capitalised platform to support future growth. We upgrade our forecasts in line with guidance and reiterate our view that the shares remain materially undervalued
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Lookers (LOOK LN) - FY 22 results & upgrade
- Published:
05 Apr 2023 -
Author:
Carl Smith, CFA -
Pages:
11
Lookers FY22 results were 1.1% ahead of our forecasts at the adj. PBT level showing good underlying growth on the prior year after adjusting for COVID support received in FY21. The Group made decent progress both operationally and strategically and now has a strong and well capitalised platform to support future growth. We upgrade our forecasts in line with guidance and reiterate our view that the shares remain materially undervalued