Lookers recently announced a trading update for the full year to 31 December 2021 with an expectation of record underlying PBT that will exceed consensus of £82m. We have increased our FY21 PBT forecasts by 5.9% to £86.2m. The Group ended the year in a net cash position of c. £8m (vs. FY20 net debt of £40.7m) and it now intends to reinstate dividends when it announces full year results. With Lookers trading at only 6.8x FY22 earnings and with a forecast FY1 dividend yield of 2.7%, we think the i ....
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Lookers Plc (LOOK LN) - Looking ahead
- Published:
10 Jan 2022 - Author:
-
Pages:
7
Lookers recently announced a trading update for the full year to 31 December 2021 with an expectation of record underlying PBT that will exceed consensus of £82m. We have increased our FY21 PBT forecasts by 5.9% to £86.2m. The Group ended the year in a net cash position of c. £8m (vs. FY20 net debt of £40.7m) and it now intends to reinstate dividends when it announces full year results. With Lookers trading at only 6.8x FY22 earnings and with a forecast FY1 dividend yield of 2.7%, we think the i ....